SF mortgage fraud verdict

(This is an excerpt of a press release from SF District Attorney’s Office)

San Francisco, CA – District Attorney George Gascon announced today that after a six month trial Winston Lum, age 48 and Jay Shah, age 48, were found guilty of multiple felonies including money laundering, conspiracy and grand theft. Lum and Shah are two of five defendants who devised a sophisticated scheme to transfer a woman’s three condominiums at One Rincon Hill, orchestrate a $2.2 Million dollar illegal loan against the property, and money laundering.

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