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Another person has been accused of committing bank fraud to buy a Maine property in which he illegally grew marijuana.
Ken Yiu, 48, was arrested Wednesday in New York. He was indicted by a grand jury in U.S. District Court of Maine in Bangor on one felony count each of maintaining a marijuana-involved premises, bank fraud, and making a false statement and report.
The federal government and local law enforcement started to crackdown on illegal marijuana grow houses throughout the state nearly two years ago. Since then, numerous homes have been raided, with thousands of marijuana plants seized. Multiple people are facing criminal charges for allegedly running marijuana grow houses and committing bank fraud. The government is trying to seize some of the homes so they can be resold.
Yiu, a U.S. citizen, bought a property in St. Albans for roughly $80,000 in August 2020. He lied on the mortgage application to say it would be his primary residence, according to court records.
He then used the property to grow and manufacture illegal marijuana, court records said.
The federal government wants the house and any profits from the marijuana to be forfeited.
Yiu is scheduled to be arraigned April 7 in Maine.
“}]] Ken Yiu, 48, a U.S. citizen, was arrested Wednesday in New York. Read More
