Former Mortgage Lender Employee Sentenced for Perjury Before the Grand Jury

SACRAMENTO, CA—United States Attorney Benjamin B. Wagner announced that John B. Ngo, 29, of San Ramon, was sentenced today by United States District Judge William B. Shubb to nine months in prison, to be followed by two years of supervised release. Ngo pleaded guilty on December 17, 2007 to one count of making a false declaration before the grand jury.

This case is the product of a joint investigation by the Federal Bureau of Investigation and IRS, Criminal Investigation. Assistant United States Attorney Laurel Loomis Rimon prosecuted the case.

According to court documents, Ngo, a former employee of Long Beach Mortgage (formerly a subsidiary of Washington Mutual Bank), falsified documents and processed numerous fraudulent loan packages for residential properties located in the Sacramento and Stockton areas. Ngo admitted to lying under oath before the grand jury when he denied that he had received thousands of dollars in kickbacks from a mortgage broker involved in the scheme.