A Roseville woman has been convicted in a mortgage fraud scheme involving properties in Roseville and El Dorado Hills.
Alla Samchuk, 45, was found guilty 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 a U.S. Attorney’s Office news release.
Tuesday’s conviction followed a four-day trial in federal court in Sacramento. After the verdict, U.S. District Judge Garland E. Burrell Jr. ordered Samchuk taken into custody. She is to be sentenced Oct. 21.
According to court documents, from 2006 through 2008, Samchuk, a licensed real estate salesperson, orchestrated a mortgage fraud scheme involving three properties using straw buyers. Two of the houses were purchased so that Samchuk could occupy them. Unable to qualify for a loan herself, she recruited straw buyers to apply for the loans in their names. Samchuk caused the submission of loan applications containing false representations of income, employment assets and a false indication that the straw buyers would occupy the homes as their primary residence.
A second objective of the scheme, authorities said, was to obtain home equity line of credit, or HELOC, funds. According to evidence presented during the trial, on two of the properties, Samchuk diverted or attempted to divert HELOC funds to her own benefit. The loans were funded based on false statements and documents submitted to the lender regarding the qualifications of the straw buyers.
The scheme involved two properties in Rosevile and one in El Dorado Hills. In 2007, Samchuk filed an application for a home equity line of credit on one of the properties without the straw buyer’s knowledge or consent. To obtain the HELOC, she forged the signature of the straw buyer on a short-form deed of trust that she caused to be notarized and recorded. The stated purpose of the home equity line of credit was home improvement, but once the line of credit was funded, Samchuk diverted all of the funds to her own use, spending the proceeds on a Lexus and repayment of a substantial personal debt, authorities said.
The case resulted from and investigation by the Federal Bureau of Investigation and the Internal Revenue Service - Criminal Investigation.