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					Real Estate Fraud Case
Victim: Shirley Hwang
SFPD Case #090276506
  Insp. Gregory Ovanessian
  Insp. Robert Steger
  SFPD Economic Crimes Unit
  Officer in Charge: Lt. Jones Wong
  (415) 553-1521
  Authorized by Captain C. Casciato
Victim
   Shirley Hwang
   Real Estate Investor
   Owns three luxury condos at One Rincon Hill
   Fair market value of the three condos is $7.5
    million
   Title to properties fraudulently transferred to
    Winston Lum
   Fraudulent loans against properties in the
    amount of $2.2 million
One Rincon Hill
San Francisco, CA
Suspect
In Custody at SF County Jail

                   Winston Lum
                   DOB: 05/04/1964
                   Former tennis
                    instructor
                   Arrested by ECU on
                    02/04/2010
Suspect – Booked on DA’s Warrant in
Riverside County Jail on 03/23/2010
   Kaushal Niroula
   In custody at the
    Riverside Co. Jail on
    187(a) PC etc.
   Has pending criminal
    cases in San
    Francisco, Marin
    County and ICE.
Suspect- Arrested 03/23/2010 at
the Shah Ranch in San Jose, CA
   Jay Chandrakant
    Shah
   4217 Quimby Rd,
    San Jose
   Owner of Telsystems
    and other business
    entities
Suspect – Arrested 03/23/2010 in
Santa Cruz, CA
   Melvin Lee Emerich
   Attorney-at-Law
   Licensed CA Real
    Estate Broker
   Lives in Santa Cruz
   Office in San Jose
           Meeting in SF with Lum and advisor Josh Beam aka Niroula agree to fund
           loan to CW
                                                                                                                   Victim

                                                         Jay Shaw (in
                                                             Shah                                                  Beneficiary
   Syd Jones                                                                       De Witte
                             Winston Lum                 Person) Lum
 (aka Niroula)                                                                  Mortgage (Peter,                   Unwitting
                                                          via phone                 Franz)                         participant
                                                                                            $2.2MM
 Kathy Chan                  Notary Public               Golden State            Commonwealth                 Finish Line
  (Realtor)                   Languban                   Home Loans             (Lawyers/Fidelity)           Notary Service
                             certifies grant             (John Flores)                                      meets with Lum
                             deed to Lum                                                    $1.7MM          & Niroula to sign
                                                         Cal. Coastal                                             docs
Mike Shigezane                                                                     Tran’s Escrow
                           Docs filed with               Funding (Bob
         associates        Assessor Office                 Purdon)


Shirley Hwang                                             PLM Lending
                                                         (for drawing of
                                                               docs)
                      $225K at BofA


                                                                           $868,845                  $601,069

                                                              Lum International               Martini and
                                                               Comerica Bank                  Chnoogle
                                                                                             Colonial Bank

                      $14K                                                                                                  $15 K
                                               $62,750                     $160K                     $291,103
                                                                 Ocwen Fin corp.
          Elvia Palimino            Melvin Emerich                                           Telsystems
                                                                  fbo Jay Shah                                     Morad Afraimi
          (Shah’s wife)                Attorney                                               (Niroula)
                                                                 RE loan payoff
            Meeting in SF with Lum and advisor Josh Beam aka Niroula agree to fund
            loan to CW


 Syd Jones
    Syd Jones
                         Winston Lum             Jay Shah (in                 De Witte
  (aka Niroula)
aka Niroula                                      Person) Lum               Mortgage (Peter,
                                                  via phone                    Franz)
 Kathy Chan
   Kathy Chan             Notary Public
    (Realtor)              Languban                                      Finish Line
  (Realtor)
                          certifies grant        Golden State            Notary Service
                          deed to Lum            Home Loans              meets with Lum
Mike Shigezane
 Mike Shigezane                                  (John Flores)           & Niroula to sign
                                                                         docs                $2.2MM
          associates
                          Docs filed with        Cal. Coastal
Shirley Hwang
  Shirley Hwang           Assessor Office        Funding (Bob              Commonwealth
                                                   Purdon)                (Lawyers/Fidelity)

                                                                                      $1.7MM
                                                  PLM Lending
                                                 (for drawing of            Tran’s Escrow
                                                       docs)
        Victim
        Beneficiary
        Unwitting
        participant
                               Tran Escrow


               $868,845            $601,069                    $250K
      Lum International                Martini and
                                       Chnoogle                  Winston Lum
       Comerica Bank
                                      Colonial Bank

      Kantonal Bank of                     $291,103
           Zurich          Telsystems                         Ocwen Fin corp.
                                                      $160K
                             (Shah)                            fbo Jay Shah
                                                              RE loan payoff
                          Melvin Emerich $62,750
                             Attorney
  Bruno        Stephan                                         Morad Afraimi
                                                      $15 K
Aeschbacher    Fellmann
                                            $14K
                          Elvia Palimino

				
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posted:3/25/2010
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