New Mortgage Fraud Indictment Issued in California

admin —  May 9, 2013 — Leave a comment

Valeri Kalyuzhnyy, 41, Orangevale,California, was indicted by a grand jury and charged with making false statements on a loan and credit application and money laundering.

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.

Kalyuzhnyy pleaded not guilty at the arraignment. 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.

United States Attorney Benjamin B. Wagner announced the indictment.

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.

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