Monday, July 9, 2018
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Former Attorney Angela F. Wallace Charged With $2 Million Fraud Scheme
By a MetNews Staff Writer
Bail has been set at $2.32 million in the case of former attorney Angela F. Wallace who is charged with 72 felony counts in connection with an alleged $2 million real estate fraud scheme.
Wallace, 57, is alleged to have taken out loans against the properties or sold them to third parties and kept the proceeds for herself.
Wallace on Thursday pled not guilty to all counts and denied all special allegations, including those of prior convictions.
If convicted, Wallace faces up to 40 years, four months in prison.
According to the District Attorney’s Office, she has three prior felony convictions: one for grand theft, one for forgery, and one for recording false documents.
Prosecuting Office’s Statement
In a statement, that office said:
“From June 2014 through January 2017, Wallace allegedly befriended elderly victims or located properties where the owners were already deceased in order to get her name placed on the title to the properties. The defendant, a former attorney, is accused of using her legal expertise to ingratiate herself with the victims….
“The scheme targeted four properties in different areas of Los Angeles and affected about two dozen victims, including property owners, estates, trusts, investment companies, property management companies and notaries….”
Deputy District Attorney Walter Mueller of the Real Estate Fraud Section is prosecuting the case.
2003 Conviction
In 2003, Wallace was convicted of stealing the proceeds of a life insurance policy from Howard and Jontrae Byrdsong, the two sons of deceased Los Angeles Police Officer Shiree Arrant.
The brothers were shot and killed in 2001 at their Inglewood home by a man disguised as a mailman. Timothy Mack, who was convicted along with Wallace for stealing from the Byrdsongs, was convicted in 2006 of those murders.
Wallace was not charged in the killings.
She obtained her law degree from USC and was admitted to the State Bar in 1988. In 1999, facing discipline from the State Bar in six consolidated cases, she stipulated to seven counts of misconduct and was put on a two-year suspension, according to records.
She resigned from the State Bar in 2001, with charges pending.
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