Philadelphia Man Sentenced for Mortgage Fraud

U.S. District Judge Michael M. Baylson sentenced Mahn Huu Doan, a.k.a. "Bruce Doan" of Philadelphia, to 151 months in prison, followed by three years of supervised release, for a mortgage fraud and identity theft scheme. According to Michael L. Levy, U.S. attorney for the Eastern District of Pennsylvania, Doan, a self-described real estate investor, would purchase houses, using false or borrowed identities, and using government insured loans, which he secured using fraudulent information. Doan's scheme also involved fraudulent appraisals that inflated the value of the houses for the purpose of reselling the properties for a higher profit. In addition to the prison term, Judge Baylson also ordered Doan to pay more than $5 million in restitution, a $5,000 fine and a $400 special assessment.