Four California Loan Reps were found guilty to get operating a multi-million greenback mortgage fraud scheme. Olga Palamarchuk, Pyotr Bondaruk, Vera Zhiry in addition to Peter Kuzmenko, 37 put together guilty by?your federal jury connected with conspiracy to spend mail fraud, linked to a mortgage fraud plan. Palamarchuk and Bondaruk were at the same time found guilty of making phony statements to a loan provider and money laundering. Zhiry had also been found guilty of money laundering.
According to evidence introduced at trial, Palamarchuk, financing officer at Cash Mortgage Lending Incorporated., recruited Bondaruk to purchase a couple houses using Completely financing and to re-finance and obtain a home value line of credit on one of your houses. In order to qualify for the loans, Palamarchuk and Bondaruk posted fraudulent loan applications for you to lenders, falsely stating Bondaruks employment, income, assets, and intent in order to occupy the family homes as his most important residence.
In addition, the particular defendants fraudulently inflated the price of the properties as well as diverted the excess resources to themselves as part of the mortgage fraud scheme. By way of example, Peter Kuzmenko received $32,378 during sellers proceeds for landscape gardening and pool get the job done his company Petes Pool Service purportedly done on a house which didnt have a pool. In the same manner, Zhiry received $100,000 to repay a purported credit card debt owed by the vendors that the sellers refused existed, and Zhiry given $40,000 of that a reimbursement to Olga Palamarchuk.
In February, Cindy Kuzmenko was found guilty within a separate mortgage fraud scheme in this location. (2:11-cr-210-JAM) He is at this time in custody.
This circumstance is the product of any investigation by the Federal Bureau of Investigation and the Internal Sales revenue Service-Criminal Investigation. Assistant United states of america Attorneys Lee Ersus. Bickley and Heiko P. Coppola are usually prosecuting the case.
The defendants sentencing is placed for October A single, 2015, before United States Area Judge Troy L. Nunley. The actual defendants face a maximum statutory penalty connected with 30 years in prison to get conspiracy to dedicate mail fraud plus making false phrases to a financial institution, Few years in prison for money washing, and a $1 million great. The actual sentence, having said that, will be determined at the discernment of the court following consideration of any related statutory factors as well as Federal Sentencing Guidelines, which take into account a number of criteria.
