A federal investigation into one of the largest alleged mortgage schemes in the Sacramento region has produced new criminal charges.
A federal grand jury on Thursday charged Andrey Kim, 28, of Sacramento and Sultanmurod Rashidov, 29, of Brooklyn, N.Y., with alleged mail fraud and money laundering.
According to the U.S. attorney's office, Kim and Rashidov used phony income statements to qualify for home equity loans for a West Sacramento residence. The home later went into foreclosure, resulting in a loss of at least $180,000 to the lender.
Kim was previously indicted in December for wire and mail fraud stemming from similar allegations of defrauding more than $1.5 million from lenders. During the past year, federal prosecutors have obtained indictments against 49 individuals as part of the same investigation.
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