Two San Francisco-area leaders of the Hells Angels motorcycle gang were indicted for their role in a plan that involved a $10 million mortgage fraud scheme that allegedly funded the purchase of marijuana ‘grow houses.’Â
The Associated Press reports that Raymond Foakes and Josh Leo Johnston of the Sonoma County chapter of the Hells Angels obtained mortgages to purchase seven properties that were to be used for growing and cultivating marijuana. Six other individuals, including a San Francisco loan officer who submitted false income documents and an accountant who created phony tax returns and employment histories of the Hells Angels members, were also indicted.
‘In many cases, bank statements were physically altered to reflect inflated balances and deposit activity,’ U.S. Attorney spokesperson Jack Gillund, who adds that the properties have since been foreclosed.
Foakes, Johnston and all but one of the defendants have pleaded not guilty to the charges.
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