California Real Estate Fraud Report

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Stiff Prison Sentence for Real Estate Agent Convicted in Mortgage Fraud Case

A Placer County woman convicted in a multimillion-dollar mortgage fraud scheme has been sentenced to 14 years in prison.

Vera Kuzmenko, 46, of Loomis was sentenced to 14 years in prison by U.S. District Judge John A. Mendez for multiple counts of mail and wire fraud, witness tampering and money laundering for her role  in the scheme that cost financial institutions more than $16 million, according to a U.S. attorney’s office news release.

Kuzmenko and  Rachel Siders, 40, of Roseville were convicted by a federal jury in December 2015. Rachel Siders will be sentenced June 21.

Prosecutors presented evidence that, from late 2006 through early 2008, Kuzmenko and Siders participants in a mortgage fraud scheme involving more than 30 properties in the Sacramento area. The pair were responsible for securing more than $30 million in residential mortgage loans on more than 30 homes purchased through straw buyers. Records introduced during the trial showed Kuzmenko received millions of dollars in payment for creating fraudulent loan applications on behalf of the straw buyers.

In October 2015, Judge Mendez sentenced co-defendants Peter Kuzmenko, 37 of West Sacramento, to 19 years in prison; Aaron New, 41 of Sacramento, to 11 years and three months in prison; Nadia Kuzmenko, 36, formerly of Loomis, to eight years in prison; and Edward Shevtsov, 52, of North Highlands, to eight years in prison. They were previously found guilty of multiple counts of mail and wire fraud associated with the mortgage fraud scheme. In addition, Peter Kuzmenko, Shevtsov and New were found guilty of money laundering associated with the scheme, and Nadia Kuzmenko was found guilty of witness tampering.

The FBI and the IRS-Criminal Investigation investigated the case.

You can find earlier articles related to this case in the California Real Estate Fraud Report.

Read the original article in the Sacramento Bee.

© 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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