A Modesto man in state prison for swindling $208,000 from victims and awaiting trial on a 30-count federal indictment has been federally indicted once again for his suspected involvement in a mortgage fraud scheme that cost lenders $3.2 million in Stanislaus and San Joaquin counties.
A federal grand jury on Thursday returned a two-count indictment, charging Tony Huy Havens, 37, with conspiracy to commit mail fraud and mail fraud in a mortgage fraud scheme, according to the U.S. attorney's office in Sacramento.
Havens acted as a promoter for "The Gift Program," which brought together real estate buyers and sellers and establish a sales price on a property, according to the latest federal indictment.
The "program" then would agree to a fictitious sales price of about $100,000 to $150,000 above the negotiated fair market value price.
Prosecutors said the buyer would obtain a loan based on the much higher value, and the loan proceeds that exceeded the actual sales price would be kicked back to the buyer to use as the down payment on the purchase.
The indictment alleges that eight homes were bought using this method in Stanislaus and San Joaquin counties. Prosecutors said the lenders lost $3,256,279.
If convicted, Havens faces a maximum sentence of 20 years in federal prison and a $250,000 fine. The case is the result of an investigation by the FBI and the Stanislaus County district attorney's office.
Last year, Havens was charged with 30 counts of wire fraud and criminal forfeiture. Federal prosecutors believe he targeted victims in at least eight states who were seeking multimillion-dollar loans for large construction projects in danger of foreclosure.
Havens gave the victims fraudulent documents that showed a third-party lender was prepared to give them a loan, the prosecutors said.
He then instructed the victims to transfer the money into his bank account to pay in advance certain costs associated with the loans. The loans never were made, and Havens is suspected of collecting at least $248,750 in wired transfers.
Havens faces up to 20 years in federal prison and a $250,000 fine for each count; the case is pending in federal court.
Havens is serving a five-year, four-month prison sentence at Wasco State Prison near Bakersfield for a 2008 Stanislaus County conviction. He was convicted of 14 felonies for defrauding two victims, including former Manteca Mayor Frank Warren.
In 2003, Havens was convicted in Stanislaus County of impersonating a notary public and illegal possession of a martial arts throwing star. He managed the Sin City nightclub in downtown Modesto before it closed in October 2007 after City Council members revoked its dance permit.
Bee staff writer Rosalio Ahumada can be reached at rahumada@modbee.com or (209) 578-2394.
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