California Real Estate Fraud Report

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Good Job! Vallejo Broker Gets Three Year Sentence for Mortgage Fraud

A Vallejo mortgage broker who pleaded guilty in August 2012 to conspiracy to commit wire fraud has been sentenced to three years in federal prison for defrauding lenders (loan fraud, mortgage fraud).

Amy Schloemann, 36 is the former president of Hiddenbrooke Mortgage. Prosecutors accused her of plotting with her husband and business partner, Karim Akil, and others to fraudulently obtain loans to purchase over 18 properties between 2006 and 2007, using straw buyers and inflated sales prices. As a result of the fraud, most of the properties were lost to foreclosure.

The case was prosecuted by the office of U.S. Attorney Melinda Haag.

U.S. District Judge Phyllis Hamilton of Oakland sentenced Amy Schloemann to prison and ordered her and several of the defendants to provide $5.8 million in restitution. Schloemann’s real estate license expired in September 2012.

Karim Akil, who also goes by the name of Scott Kinney (??), has already pleaded guilty to conspiracy and money laundering in the same case and awaits his sentence.

Read the original article in SFGate and

© 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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