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April 17, 2009
A man who pleaded guilty to his role as a straw buyer in a mortgage fraud scheme said he didn't know it was illegal to do so.
Rick Kealoha Pa Jr., 39, said he thought he was helping someone avoid foreclosure when he applied for and was granted a loan for almost $300,000, but had no intent to live in the home he bought. He was paid $10,000 for his participation.
Pa provided mortgage processing and computer services to John Dimitrion, who remains at the center of the scandal, and his brokerage company, Mortgage Alliance. Pa faces up to five years in prison. Sentencing is set for August.
An employee of Dimitrion, Vance Yukio Inouye, 31, has pleaded guilty as well. Dimitrion and his wife Julie Ann Baldeuza Dimitrion are reportedly scheduled to plead guilty this month. Another defendant, Benjamin Yoshito Thompson, is set to stand trial in September.
Read story at Star Bulletin
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