Two Chinese men living in New York pleaded guilty to mortgage fraud charges on Wednesday after they conspired to obtain three homes for use as illegal marijuana grow facilities.
[RELATED: Man Enters Guilty Plea in Maine’s First Federal Case for Illegal Marijuana Grow House…]
Tony Liang, 37, of Brooklyn, New York, headed up a conspiracy to obtain over $500,000 in mortgage loans from two Maine banks.
He and his co-conspirators used the loans to purchase residences in Bucksport, Eddington, and Canaan, after they falsely represented to the banks that the properties would be used as residences.
Throughout the loan application process, Liang provided false information to the banks and created and submitted fake documentation.
He also pleaded guilty to a charge of maintaining a marijuana-involved property in Bucksport. He operated the property from January 2021 through February 2022 until production was halted by a structural fire.
The Fire Marshal’s investigation of the property revealed remnants of various equipment and products indicating the illegal marijuana operation.
Yongliang Deng, 35, of Queens, New York, worked with Liang and allowed him to use his personal information on loan applications. He then used his own bank account to pay the down payment on the Eddington property.
Liang then reimbursed Deng for the payments, while Deng was still listed as the property owner on official documents.
Both men face a potential 30-year prison sentence and a million-dollar fine on the mortgage fraud charges, and Liang faces an additional 20 years and a $500,000 fine on the marijuana charge.
