Source: United States Department of Justice Criminal Division
Today, in federal court in Brooklyn, Seung Y. Lee, also known as “Kevin Lee,” was sentenced by United States District Judge Hector Gonzalez to 33 months’ imprisonment following his previous guilty plea to one count of conspiring to commit wire fraud and bank fraud. Over the course of seven years, Lee, through his business, Pinnacle Capital (Pinnacle), submitted or caused the submission of hundreds of fraudulent home equity line of credit (HELOC) applications to financial institutions on behalf of loan applicants in exchange for fees. In addition to the term of imprisonment, Lee was also ordered to forfeit $841,549.50 to the government.