California Real Estate Fraud Report

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29
Oct

Four Sacramento residents sentenced to prison in mortgage fraud scheme

Four Sacramento-area people who were found guilty of conspiracy related to mortgage fraud received prison sentences in federal court.

Peter Kuzmenko, 37,  was sentenced to nearly six years in prison. He had received 19 years in prison earlier this week for another mortgage fraud case.

Olga Palamarchuk, 45, received almost six years.

Pyotr Bondaruk, 44,  was sentenced to almost six years.

Vera Zhiry, 35, was sentenced to three years and one month.

Prosecutors had accused Palamarchuk, a loan officer at Capital Mortgage Lending Inc., of submitting fraudulent loan applications on behalf of Bondaruk, to lenders in order to get 100% financing on two home loans and then later a HELOC (home equity line of credit) on one of them. They then diverted $32,378 of “seller’s proceeds” to Kuzmenko, owner of Pete’s Pool Service, to pay for non-existent repairs and improvements.
Read the original article in the Sacramento Business Journal.

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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