‘Ailing’ con man jumps $1M bail, hits road

Courtesy PhotoAuthorities believe Jay Shah never checked into a private care facility after supposedly being transferred from a hospital.

A high-rolling con artist who faces 35 years in prison for a San Francisco real estate scam is now a fugitive, prosecutors said, after he posted a $1 million bail and then apparently disappeared before the guilty verdict in the case was handed down Wednesday.

Jay Shah, 48, the former owner of a telecommunications company in Silicon Valley, was reportedly ill and had been transferred from a hospital to a private care facility. While authorities confirmed that Shah had been at a hospital, they believe he never enrolled at a private care facility.

Shah and 48-year-old Winston Lum were convicted in connection with a high-profile scam at the posh One Rincon Hill condominium tower. The pair, along with three others, were charged with conspiring to fraudulently transfer a woman’s three condos, illegally obtain a $2.2 million loan on the properties and launder the money through shell companies.

Lum did attend the reading of the verdicts Wednesday.  

Shah had equity from his properties to post the $1 million bail, Assistant District Attorney Alex Bastian said Thursday.

Another person charged in the scam, Grachelle Languban, is a fugitive believed to have fled to the Philippines.

Also charged in the case is Kaushal Niroula, the 31-year-old Nepalese national who is famously known as the “Dark Prince.” He is in custody in Riverside County after being found guilty for the 2008 murder of a Palm Springs retiree.

Bay Area NewsCrimeCrime & CourtsSan FranciscoSan Francisco Police Department

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Anti-eviction demonstrators rally outside San Francisco Superior Court. (Kevin N. Hume/S.F. Examiner)
Report: Unpaid rent due to COVID-19 could be up to $32.7M per month

A new city report that attempts to quantify how much rent has… Continue reading

Music venues around The City have largely been unable to reopen due to ongoing pandemic health orders. (Kevin N. Hume/S.F. Examiner)
SF to cut $2.5M in fees to help 300 nightlife venues

San Francisco will cut $2.5 million in fees for hundreds of entertainment… Continue reading

Supreme Court nominee Judge Amy Coney Barrett departs the U.S. Capitol on October 21, 2020 in Washington, DC. President Donald Trump nominated Barrett to replace Justice Ruth Bader Ginsburg after Ginsburg’s death. (Photo by Stefani Reynolds/Getty Images)
GOP senators confirm Amy Coney Barrett to Supreme Court in partisan vote

By Jennifer Haberkorn Los Angeles Times The Senate on Monday confirmed Judge… Continue reading

Curator Tim Burgard looks over a section of the galleries comprising “The de Young Open,” a huge, varied collection of work by Bay Area artists. (Photo courtesy Gary Sexton/Fine Arts Museums of San Francisco)
Bay Area artists jam-pack vivid ‘de Young Open’

Huge exhibition — with works for sale — showcases diversity, supports community

SF Board of Education vice president Gabriela Lopez and commissioner Alison Collins listen at a news conference condemning recent racist and social media attacks targeted at them and the two student representatives on Monday, Oct. 26, 2020. (Kevin N. Hume/S.F. Examiner)
Online attacks on school board members denounced by city officials

City officials on Monday condemned the targeting of school board members, both… Continue reading

Most Read