Dianna Woods has received a three-year sentence in federal prison after being convicted of four counts of making false statements on loan applications. She was sentenced in Sacramento by Senior U.S. District Judge William B. Shubb.
Woods, 60, was a licensed real estate salesperson for a brokerage called VLD Realty, dba Trade House USA. VLD built and sold houses in residential developments in the Sacramento, Carmichael and Copperopolis areas. When the real estate market started to decline in 2006, VLD tried to sell some of its properties by making the down-payments for buyers and giving them money after the sale closed. Woods was accused of purchasing two of the houses without disclosing the kickbacks and also allegedly submitted loan applications and supporting documentation containing untrue information regarding the purchase terms, as well as her income, employment and assets.
The prosecution grew after the circumstances were investigated by the Federal Bureau of Investigation (FBI) and Internal Revenue Service Criminal Investigation. The case was prosecuted by the U.S. Attorney for the Eastern District of California.
Read the original article in the Sacramento Bee.