David Saks: May 2013

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Orangevale Man Charged in Mortgage Fraud Scheme

Orangevale Man Charged in Mortgage Fraud Scheme

U.S. Attorney’s Office May 06, 2013
  • Eastern District of California (916) 554-2700

SACRAMENTO, CA—A five-count grand jury indictment was unsealed today charging Valeri Kalyuzhnyy, 41, of Orangevale, with false statements on a loan and credit application and money laundering, United States Attorney Benjamin B. Wagner announced.

The indictment alleges that Kalyuzhnyy caused the preparation and submission of loan applications to federally insured lenders that falsely stated various home buyers’ income, employment, assets, and intent to occupy the homes as their primary residences.

According to the indictment, Kalyuzhnyy was responsible for the origination of almost $4 million in residential mortgage loans.

This case is the product of an investigation by the Federal Bureau of Investigation and Internal Revenue Service-Criminal Investigation. Assistant United States Attorneys R. Stephen Lapham and Lee S. Bickley are prosecuting the case.

Kalyuzhnyy pleaded not guilty at the arraignment today. He is scheduled for a status conference before United States District Judge Morrison C. England, Jr. on May 23, 2013. Kalyuzhnyy was released on a $50,000 bond.

If convicted, Kalyuzhnyy faces a maximum penalty of 30 years in prison and a $1 million fine. Any sentence, however, would be determined at the discretion of the court after consideration of any applicable statutory factors and the Federal Sentencing Guidelines, which take into account a number of variables.

The charges are only allegations; the defendant is presumed innocent until and unless proven guilty beyond a reasonable doubt.

source: FBI

David Saks

Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • May 07 2013 09:27AM
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