California Real Estate Fraud Report

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Orangevale Man Indicted by Federal Grand Jury for Mortgage Fraud

An Orangevale man has been indicted by a federal grand jury on five counts having to do with mortgage fraud and loan fraud.

Valeri Kalyuzhnyy, 41,  is charged with making false statements on a loan and credit application and money laundering. The charges date back to the days of Washington Mutual Bank, Countrywide Bank, Bank of America and US Bank, when Kalyuzhnyy worked to prepare and then submit loan applications to the four lenders. According to the indictment, he originated close to $4 million in mortgages by falsifying the income, assets and employment status of the prospective borrowers as as the (non-) fact that they intended to occupy the loans.

The case will be prosecuted by Assistant U.S. Attorneys Stephen Lapham and Lee Bickley and was investigated jointly by the FBI and IRS.

Read the original article in the Sacramento Business Journal.

© Copyright 2007-2018 Monique Bryher

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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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