WESTMINSTER, Calif.—Two men involved in a $15 million mortgage fraud scheme in Orange County were sentenced Thursday to seven years in prison.
Jimmy Phan, 47, and Vinh Phan, 47, both pleaded guilty Dec. 16, 2021, according to court records. The Phans are not related.
Co-defendant Stephen Nguyen, 59, is a fugitive.
Jimmy Phan has about 14 months of credits for time in custody, his attorney Mark Fredrick said.
“Jimmy Phan regrets he got involved in this business with these other individuals and regrets the harm that he caused,” Fredrick said.
Jimmy Phan and Vinh Phan pleaded guilty to multiple felony counts of grand theft, mortgage fraud, attempting to file a false or forged instrument and admitted sentencing enhancements for aggravated white collar crime exceeding $500,000.
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