Two men accused of lying to banks and operating illegal marijuana grows in Maine will plead guilty, court records show.
Yuantong Liang will plead guilty to two of 15 felony charges, while Yongliang Deng will plead guilty to one of three felony charges, according to plea agreements between the men and the U.S. Attorney’s Office. The agreements were entered Tuesday in the U.S. District Court of Maine in Bangor.
Liang and Deng 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.
Federal law enforcement started cracking down on illegal marujuana grow facilities in Maine in 2023. Liang and Deng were among the first people to face federal charges.
Liang will plead guilty to one count each of bank fraud conspiracy and maintaining a marijuana involved premises. The prosecution will dismiss five counts of making a false statement, two counts of maintaining a marijuana involved premises, two counts of bank fraud and one count each of money laundering promotion and making a false statement to federal law enforcement.
Deng will plead guilty to one count of bank fraud conspiracy and the prosecution will dismiss one count each of bank fraud and false statements to federal law enforcement agents, according to court records.
A judge must accept the guilty pleas. No court date is scheduled.
The men, both U.S. citizens, were arrested in December in New York. They allegedly defrauded two Maine banks to obtain mortgages by using co-conspirators to apply for the loans. 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.
For the bank fraud conspiracy each man will face a maximum sentence of 30 years in prison and a fine of up to $1 million, according to the agreements.
Liang also faces a maximum sentence of 20 years for maintaining a marijuana involved premises, as well as a fine up to $500,000, the agreement said.
