A lawyer who pleaded guilty in April to taking part in two separate massive fraud schemes now has surrendered her Virginia law license.
Seung Oh Kang of Annandale – convicted under the name Seung E. Oh – admitted taking part in a small business loan fraud scheme said to involve more than $100 million in losses to a federal program. Kang also admitted to misappropriating millions in real estate loan money in Virginia as part of an operation that produced 11 guilty pleas.
“These defendants have admitted to bilking millions of dollars from our financial institutions by falsely inflating costs of doing business while processing short sales, keeping payoffs from mortgages thought to have been refinanced, and illegally borrowing against escrow accounts of homeowners in Northern Virginia,” said FBI official Valerie Parlave when the real estate convictions were announced last month.
Kang, who had a settlement company in Annandale, pleaded guilty to charges in Maryland federal court in the small business loan scam and in Virginia federal court in connection with the real estate scam.
On June 7, the Virginia State Bar Disciplinary Board suspended Kang’s license to practice law based on her Maryland conviction.
On June 24, the board revoked Kang’s license to practice law. In consenting to the revocation, Kang admitted that the charges against her are true and that she could not successfully defend against them, according to the VSB.