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2 arrested in $1M+ Longmont real estate fraud case; 77-year-old victim found dead

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Posted at 4:26 PM, Nov 17, 2021
and last updated 2021-11-18 13:12:22-05

LONGMONT, Colo. — Police in Longmont arrested two people in connection with a more than $1 million real estate fraud case in which the 77-year-old victim was found dead.

Longmont police arrested Savuth Yin, 26, and Yulisa Yin, 24, on Nov. 9 for what police said was their alleged involvement to try to defraud a well-known Longmont real estate broker who owned and managed several properties in the city.

The 77-year-old victim, identified Wednesday as Fred Oelke, was found dead in his home on Sept. 15. His cause and manner of death are pending further investigation, police said.

Longmont police said the suspects were apparently handling the funeral arraignments for Oelke and were insistent toward funeral home staff that he be cremated, offering to pay extra for services to occur quickly.

The staff at the funeral home grew suspicious of the request and contacted police, according to the Longmont Police Department.

Upon further investigation, police discovered that many of the people who were renting from Oelke were receiving phone calls and letters advising them that they must move out. Investigators later learned the ownership of Oelke's properties had allegedly been transferred to the suspects and fraudulently notarized, according to an affidavit.

There were a total of 14 forged deeds filed between April and October of this year, totaling more than $2.5 million in property value, the documents read.

The documents state Savuth Yin was a tenant in one of Oelke's properties and Yulisa Yin owns a business called Make It Easy LLC. She received her associate-level real estate broker's license in September.

A search of the couple's home revealed evidence of the alleged scam and an apparent checklist in which they allegedly planned to leave the country after selling Oelke's properties, according to the arrest affidavit.

The suspects were booked into the Boulder County Jail on several charges including theft of $1,000,000 or more, burglary, and forgery.

There were released after they posted two separate $50,000 bonds, according to jail records.

The department is asking anyone with information in this case to contact Detective Rachael Sloan-Stogsdill at 303-651-8544.