Armed suspects storm upscale O.C. home

NEWPORT BEACH, Calif. Three suspects have been arrested, but police are looking for two more.

Police received a cell-phone call that residents of a home were being threatened at gunpoint at a home on Longboat in Newport Coast at about 10:15 p.m. Tuesday. Four armed subjects entered the home and had demanded jewelry and cash, according to Newport Beach Police Lt. Craig Fox.

Officers were able to quickly locate the first suspect in a nearby yard. He had apparently sustained an injury to his ankle while trying to flee before the police got to the residence.

The second suspect was apprehended as he was driving out of the area, and the third man was found in a parked vehicle with its lights out.

Fox said there were nine people in the home, and three were treated for head injuries. Two were treated on scene, while the other victim was taken to a local hospital. Police were unsure what they were hit with.

SWAT teams from Irvine and Newport Beach searched the home most of the morning for the two suspects, but by 9 a.m. Wednesday the search was called off.

The home belongs to Daniel Sadek. His company Quick Loan Funding, a subprime mortgage lender, collapsed in 2007.

Police are unsure how the suspects got into the tightly guarded Pelican Ridge neighborhood. Two of the three suspects in custody are Los Angeles residents, and the third suspect is from Mission Viejo. All three are being held in lieu of $100,000 bail.

Anyone with information is urged to call the Newport Beach Police Department at (800) 550-NBPD.

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