FOR IMMEDIATE RELEASE	CONTACT: Lauren Horwood
June 20, 2011	PHONE: (916) 554-2706
www.usdoj.gov/usao/cae	usacae.edcapress@usdoj.gov
Docket #: 2:10-cr-488 WBS

                SACRAMENTO, Calif. — United States Attorney Benjamin B. Wagner announced that Yong Vang Yang, 33, of Sacramento, was sentenced today by United States District Judge William B. Shubb to 33 months in prison for fraudulently applying for loans. Yang was also ordered to pay $675,047 in restitution.

                According to court documents, from December 2005 through December 2007, Yang applied for student, credit card, and bank loans using the personal identifying information of his family members. Yang did this without their knowledge or consent. He fraudulently altered his old class schedule from college so it would appear that the person borrowing money was a current student. In this way, Yang fraudulently received over $700,000 in loan proceeds. He invested these funds in the stock market but lost everything.

                This case is the product of an investigation by the United States Secret Service. Assistant United States Attorney Jared C. Dolan prosecuted the case.

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