|For Immediate Release
Case # 10HF2252
December 27, 2010
|Susan Kang Schroeder
Chief of Staff
MAN IN COURT FOR STEALING OVER $650,000 FROM WIDOW FOR FAKE INVESTMENTS TO SPEND ON PERSONAL EXPENSES
SANTA ANA – A man was in court today for stealing over $650,000 from a widow by lying about being a Certified Financial Planner (CFP) and spending her investments on personal expenses. Hoang Quoc Tathanhlong, 49, Westminster, is charged with three felony counts of grand theft and two felony counts of using an untrue statement in the purchase or sale of a security with sentencing enhancements and allegations for property loss over $200,000, aggravated white collar crime over $100,000, and loss over $100,000. If convicted, he faces a maximum sentence of 15 years in state prison. Tathanhlong is being held on $670,000 bail and the defendant must prove the money is from a legal source before posting bond. He is scheduled for a continued arraignment Jan. 21, 2010, at 10 a.m. in Department C-J1, Central Jail, Santa Ana.
In November 2007, Tathanhlong is accused of meeting the victim, 41-year-old Tanya H., a recently widowed mother of five, while working as a funeral planning representative at a Buddhist temple in Westminster. The victim was making funeral arrangements for a friend. The defendant is accused of lying to Tanya H. that he was a CFP employed by TD Ameritrade and giving the victim his fake business card.
Shortly after meeting, Tathanhlong is accused of telling Tanya H. to transfer $240,000 to an account in the defendant’s name to invest in a low-risk Certificate of Deposit (CD), which would accrue interest over a 3-year period. On Nov. 23, 2007, the victim transferred the money, which was the proceeds from her husband’s life insurance policy.
In April 2008, Tathanhlong is accused of falsely telling Tanya H. that he was Chief Investment Officer of TD Ameritrade and to invest another $500,000 with his company. He is accused of directing the victim to take equity from her home to obtain the investment funds. On April 14, 2008, Tathanhlong is accused of instructing Tanya H. to wire the $390,000 she took out in equity to an account in name of the defendant and his wife. Tathanhlong is accused offering a fictitious $100,000 loan to cover the difference for the $500,000 investment. In August 2008, the defendant is accused of receiving two cash payments totaling $40,000 from the victim as reimbursement for the fake loan.
Tathanhlong is accused of spending Tanya H.’s $240,000 safe CD investment in day trading and the victim’s $390,000 investment on personal expenses including a Mercedes Benz.
In late August 2008, the defendant is accused of suggesting that Tanya H. sell property she owned in northern California and invest the funds through him. The victim consulted her sister about the potential investment, who became suspicious and accompanied Tanya H.