UPDATE as of 4:20 p.m. Kandi pleaded not guilty and was released pending trial on the conditions that he surrenders his passport and remains in Western Washington, U.S. Attorney’s Office spokeswoman Emily Langlie said.
The public defender who represented Kandi in the initial proceedings was not immediately available for comment.
INITIAL POST: A grand jury today indicted a University Place man who offered loans to desperate borrowers and then took their homes if they missed a payment.
The FBI arrested Emiel Kandi, a 36-year-old hard money lender, this morning. He will appear in court this afternoon to face charges of conspiracy, …