David Young, 37, and Minerva “Chaidez” Young, 38, Las Vegas, Nevada, have been arrested for their involvement in a mortgage lending fraud case involving numerous victims operating under the name My State Processing.
Both David and Minerva Young are charged with four felony counts of mortgage lending fraud, four felony counts of theft, one felony count of multiple transactions involving fraud and deceit in the course of enterprise and occupation, and one felony count of pattern of mortgage lending fraud.
Per the complaint, from March 2011 to March 2012, the Youngs made false representations that they were capable of rescuing homeowners who were looking to refinance their mortgages by negotiating loan modifications. They collected up-front fees, in most cases ranging from $2,500 to $3,000, for proposed services never performed or refunds provided.
Both David and Minerva Young face a 20 year prison sentence. The preliminary hearing is set for January 14, 2013 at 1:30 p.m. in Las Vegas, Nevada, Justice Court 5. Defendants are presumed innocent until proven guilty.
Nevada Attorney General Catherine Cortez Masto made the announcement.
“Based upon my office’s investigation there is probable cause to believe that this is another case of mortgage lending fraud,” said Masto. “As always, we encourage those who believe they may be a victim to submit a written complaint.“
Anyone with additional information regarding David or Minerva Young, or My State Processing is urged to contact the Attorney General’s Office Bureau of Consumer Protection Hotline at 702-486-3132 and press “3” to receive instructions on how to submit a complaint.
The case was investigated by the Attorney General’s Mortgage Fraud Unit and is being prosecuted by Deputy Attorney General, Gary Mathews.