WEST PALM BEACH, Fla. (AP) -Authorities have arrested a man who allegedly sold the same house to two different owners and pocketed the money rather than paying off the mortgage.
Michael Chinloy was released from Palm Beach County jail Wednesday on $20,000 bond. He faces charges of grand theft and organized scheme to defraud.
Investigators say the 46-year-old made at least $86,000 from the scam.
One couple said they paid Chinloy more than $120,000 in a two-year span after he promised to help them get a mortgage.
Instead, authorities say he kept the cash and let the house fall into foreclosure.
Pictured Above: Michael Chinloy