A San Gabriel man who reportedly owned a DJ business in West Hollywood was scheduled to be sentenced on Monday but failed to appear in court. He is being sought by the FBI, according U.S. Attorney’s Office in Los Angeles.

David Kaup (photo courtesy of LAPD)

David Kaup, 29, was scheduled to be sentenced on Dec. 17 in the United States District Court in Los Angeles. Kaup pled guilty to two counts of wire fraud on April 9.

According to his plea agreement, Kaup carried out three separate fraud schemes, each of which caused millions in losses to victims. He admitted in his plea agreement that over a period of approximately five years, he defrauded more than 50 families out of more than $11 million.

Many of these victims were working class families who sought Kaup’s assistance in refinancing their homes. He admitted in his plea that he had operated several companies, including Lunden Investments, American Loans and Funding (ALF) and First Mortgage West, each of which was based in Los Angeles.

Through Lunden Investments, Kaup convinced investors to give him more than $9 million, which he said he was going to use for commercial loans. He admitted, however, that he instead lost approximately $9 million of the victims’ money trading on the Foreign Currency Exchange Market.

After defrauding these victims, Kaup started a separate scheme to deceive homeowners into sending him money. He admitted that through his second company, ALF, he told homeowners that he could refinance their homes at below-market rates, so long as they provided certain funds up front to demonstrate that they financially qualified for the special loan terms.

These funds were supposed to be kept safe during the loan process and then returned when the loan was either approved or denied. Kaup never tried to refinance the homeowners’ loans, and instead used the victims’ money to buy luxury items for himself and to trade on the Foreign Currency Exchange Market.

In all, Kaup defrauded more than 50 families out of approximately $2 million. In carrying out these schemes, Kaup used several aliases, including “David Smith” and “David Martinez.” He is 5 feet 11 inches tall and weighs approximately 190 pounds.

Kaup has been known to work as a disc jockey in the Los Angeles and Las Vegas areas and has used the moniker, “New Age Dave.”

Anyone with information as to the whereabouts of Kaup is urged to call the FBI at (888)226-8443.