Woman Arrested In Alleged Fraud Scheme Had Been Profiled In CBS2 News Investigation

WESTMINSTER (CBS) — Two women were charged Wednesday in connection with a massive real estate scheme in Orange County and one of those women had previously been featured in a CBS2 News investigation.

Three years ago we found Lynn Eichenberger promising foreclosure help and real estate riches and leaving a long line of victims.

“This is the solution that is going to save your home,” Eichenberger was caught saying on our hidden camera.

She had been conducting a mortgage foreclosure seminar, claiming that for a price, she could help people freeze their mortgages.

“If you have a $300,000 mortgage, guess what, it freezes,” she said as our camera recorded.

Wednesday the Orange County District Attorney arrested her on charges of a $2 million fraud scheme.

“Behind every crime, there are real people. Many of these people have lost their life savings, their hopes and their dreams,” Orange County D.A. Tony Rackauckas said.

Eichenberger, 42, and Loan Thituong Nguyen, 43, were charged with defrauding investors in Westminster.

We profiled Eichenberger in 2009 for allegedly defrauding people in a real estate development called Emerald Bay, when she claimed that she was the CEO.

“I think she’s a predator and she has been preying on people’s savings accounts,” Len Armijo said.

We spoke with Armijo and three others who said they invested hundreds of thousands of dollars with Eichenberger and got nothing.

One man said Eichenberger went by the name “Kc” when she was at Valley Credit Express and that she promised to help him out of foreclosure.

We tracked her down at the time, but she did not want to talk.

Now if convicted, she faces up to 20 years in prison.

» RELATED STORY: Prosecutors: Women Preyed On OC Vietnamese Community In $2M Scam

More from David Goldstein
Comments

One Comment

  1. Gopal Das says:

    Unfortunately, there are still tons of similar real estate and mortgage scams out there…There is an iPhone app recently released, called Scam Detector, which exposes over 500 of the most notorious scams. It is worth checking it out, if you have an iPhone. The app is also online, if interested: http://www.scam-detector.com. Kinda cool, actually.

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