A federal grand jury has convicted two women for operating a mortgage fraud scheme in the Sacramento area during 2006-2008.
Vera Kuzmenko, 45, of Loomis, and Rachel Siders, 40, of Roseville were found guilty of multiple counts of mail and wire fraud; Kuzmenko also was found guilty of witness tampering and money laundering.
Kuzmenko was a real estate agent during part of the time the scheme was operating. According to prosecutors, she created fraudulent loan applications for the straw buyers. Siders ran the Rocklin office of the escrow company used to close many of the transactions.
“Vera Kuzmenko was a major figure in a network of fraudsters responsible for a wave of mortgage fraud that hit the Sacramento area,” U.S. Attorney Benjamin B. Wagner said in a written statement.
Read the original article in the Sacramento Bee.