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September 1, 2014

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Ex-Henderson loan officer pleads guilty in investment scam

A former mortgage loan officer from Henderson pleaded guilty in federal court Monday to defrauding more than 30 people out of $1 million by roping them into an investment scam.

Kamalu Gonzales, 47, faces up to 40 years in prison after pleading guilty to two counts of mail fraud, six counts of wire fraud, and two counts of money laundering. Each fraud charge could carry a $1 million fine, and the laundering charges could each carry a $250,000 fine.

From 2007 to 2008 Gonzales swindled people into thinking he successfully invested and traded in foreign currency, according to court records.

He also used his job to find new investors. Gonzales fudged information on clients’ loan applications to help them refinance their homes. He then talked those clients into putting some of the refinancing cash they wouldn’t have had otherwise toward his scheme, according to court records.

He’s estimated to have conned more than 30 people out of roughly $1 million. He spent an estimated $410,000 of that money on personal expenses, according to court records.

Gonzales sentencing is set for Nov. 14, 2013.

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