Mahn Huu Doan, AKA Bruce Doan, was sentenced to over 12 years (151 months) in prison for a massive identity theft and mortgage fraud scheme.  Doan, a 40-year-old, self-depicted real estate investor bought homes using fake or borrowed identities.

He used government insured loans that he secured using fraudulent information.  Included in Doan’s scheme were fraudulent appraisals inflating the value of homes for the express purpose of reselling the properties for greater profit.

Doan was responsible for overseeing 195 fraudulent real estate dealings that involved 180 properties.  Prosecutors noted that in almost every transaction, the home was either in or close to being in foreclosure.  In addition, they said that net losses to lenders, including the government and various banks for insured and conventional loans, respectively, could exceed $6 million.

After initially being charged, and while cooperating in his mortgage fraud case, Doan was out on a $50,000 bail.  While out, however, he allegedly attempted to hire a hit man to murder two individuals and maim a third.  The intended victims were an attorney and two individuals who were suing him.

Unfortunate for Doan, the hit man he was trying to hire was a federal witness who was secretly recording their conversations.  Needless to say, his bail was revoked, he was arrested and charged with murder-for-hire.

Jail time is not all that Doan has to fork over.

U.S. District Judge Michael M Baylson ordered Doan to pay over $5 million in restitution, a $400 special assessment, a $5,000 fine and to complete 3 years of monitored release.

The Federal Bureau of Investigation, along with the U.S. Department of Housing and Urban Development’s (HUD) Office of Inspector General, investigated the case.  Assistant U.S. Attorneys Michael S. Blume and Sarah L. Grieb prosecuted the case.  U.S. Attorney Michael Levy announced the sentencing.