Two men pleaded not guilty Tuesday to allegedly committing bank fraud to buy houses for illegal marijuana grows.
Yuantong Liang, 36, and Yongliang Deng, 34, allegedly lied to banks to obtain mortgages for three houses in 2020. The houses, in Bucksport, Eddington and Canaan, were then used to illegally grow and process marijuana, according to court records.
The men appeared in U.S. District Court of Maine in Bangor for their arraignments on Tuesday. They both pleaded not guilty.
Liang pleaded not guilty to 13 felony charges: five counts of making a false statement, three counts of maintaining a marijuana involved premise, two counts of bank fraud and one count each of conspiracy to commit bank fraud, money laundering promotion and making a false statement to federal law enforcement.
Deng pleaded not guilty to one charge each of conspiracy to commit bank fraud, bank fraud and making a false statement to federal law enforcement.
The men defrauded two Maine banks to obtain mortgages by using co-conspirators to apply for the loans, according to court records. They received $542,000 in mortgages for the three properties.
Those homes were then used to illegally grow and process marijuana, according to court records.
Liang and Deng, both U.S. citizens, were released on bail. They had to surrender their passports to the court and are only allowed in parts of New York and New Jersey, as well as travel to Maine for court appearances.
