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Alleged real estate fraud targeted elderly LA-area victims

February 1, 2019

LOS ANGELES (AP) — Prosecutors have now filed 162 felony counts against a Los Angeles woman who allegedly bilked millions of dollars from elderly property owners and others through real estate and financial fraud.

Deputy District Attorney Walter Mueller says 58-year-old Angela Fawn Wallace befriended elderly homeowners and located properties whose owners were deceased, then falsified documents to have her name placed on titles to the buildings.

Wallace is also accused of obtaining loans secured by the properties or selling them and then keeping virtually all the proceeds for herself.

She’s also accused of stealing $800,000 from a victim’s stock portfolio and other accounts.

The former attorney with prior convictions pleaded not guilty Thursday to 35 felony counts filed Jan. 29. She previously pleaded not guilty to 127 felony counts separately filed last year.

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