Loomis Woman Gets 14 Years for Mortgage Fraud Scheme

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SACRAMENTO, Calif. (AP) — A California woman has been sentenced to 14 years in prison after being convicted in a multimillion-dollar mortgage fraud scheme.

The Sacramento Bee reports (http://bit.ly/2544rLR ) that the U.S. attorney’s office says 46-year-old Vera Kuzmenko of Loomis participated in a scheme that cost financial institutions more than $16 million.

Prosecutors say Kuzmenko and another woman obtained more than $30 million in residential loans on more than 30 homes purchased through straw buyers in the Sacramento area.

Kuzmenko had been a licensed real estate agent for part of the scheme. Prosecutors say she created fraudulent loan applications on behalf of the straw buyers and served as a straw buyer herself.

Five other people have been found guilty in connection with the scheme.

The case resulted from an investigation by the FBI and Internal Revenue Service.