News Releases

January 31, 2019: New Charges Filed Against Woman Accused in Real Estate Fraud Scheme

Contact: 
Paul Eakins, Public Information Officer
(213) 257-2000

A West Hills woman accused of bilking millions of dollars from elderly property owners and others through real estate and financial fraud is facing dozens of new charges, the Los Angeles County District Attorney’s Office announced today.

Angela Fawn Wallace (dob 12/3/60) has been charged with a total of 162 felony counts, including grand theft, identity theft, forgery and money laundering, in two separate cases. The charges include special allegations of taking of more than $200,000 and prior convictions.

She pleaded not guilty today to 35 felony counts in case BA474533, which was filed on Jan. 29.

Wallace initially was charged in July in a 72-count complaint in case BA468922. Additional charges were later added in that case, bringing it to 127 felony counts. She has pleaded not guilty to those charges.

A preliminary hearing setting for both cases is scheduled for March 28 in Department 30 of the Foltz Criminal Justice Center.

From June 2014 through August 2018, Wallace allegedly befriended elderly homeowners and located residential properties whose owners were deceased, then falsified documents in order to get her name placed on the titles of the buildings, said Deputy District Attorney Walter Mueller of the Real Estate Fraud Section. The defendant, a former attorney, is accused of using her legal expertise to ingratiate herself with the victims.

The alleged scheme targeted six properties in Los Angeles County and affected two dozen victims, including property owners, estates, trusts, investment companies, property management companies and notaries, Mueller said. The real estate victims lost a total of $2.4 million.

Wallace allegedly either obtained loans secured by the properties or sold them to innocent purchasers, purportedly keeping virtually all of the proceeds for herself, the prosecutor said. In one instance, she allegedly had her name placed on the title, then rented several of the units and kept the rental proceeds for herself instead of giving them to the estate of the deceased owner.

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

Wallace faces a possible maximum sentence of 81 years and 10 months in state prison if convicted as charged. Bail has been set at $980,000.

The defendant has several prior felony convictions out of Los Angeles County, including grand theft in 2003, 2007 and 2013; forgery in 2003; and recording false documents in 2007, according to the felony complaints.

Case BA468922 remains under investigation by the Los Angeles County District Attorney’s Office, Bureau of Investigation. Case BA474533 is being investigated by the Bureau of Investigation and the Los Angeles County Sheriff’s Department.