A California woman who was a licensed real estate agent is facing over 30 years in prison after being convicted in a mortgage fraud scheme involving three properties.
Alla Samchuk, 45, of Roseville, was immediately ordered into custody by the judge when she was found guilty by a Sacremento jury after a four-day trial. She was convicted of six counts of bank fraud, six counts of making a false statement to a financial institution, one count of money laundering, and one count of aggravated identity theft, according to the United States Department of Justice (USDOJ).
Samchuk was a licensed real estate salesperson who committed mortgage fraud involving three homes in the Sacramento area using straw buyers.
She bought two of the properties for herself, but did not truly qualify for the loans, so she instead recruited straw buyers to apply for the mortgages in their names using false information, and claiming that the straw buyers would occupy the homes as their primary residence.
The next part of the scam involved getting new loans on the homes in the form of HELOC (home equity line of credit) funds by again submitting false statements and documents to the lender regarding the qualifications of the straw buyers.
Samchuk is scheduled to be sentenced on October 21, 2016.