Brothers Admit Lying About Income to Obtain Loans

admin —  April 23, 2013 — Leave a comment

Andrey Andreyev, 37, Sacramento, California, and Vitaliy Andreyev, 30, Antelope, California, pleaded guilty to wire fraud arising out of a mortgage fraud scheme.

According to court documents, brothers Andrey Andreyev and Vitaliy Andreyev were recruited by Vera Kuzmenko, the owner of VK Tax Services, a tax preparation business, to purchase properties they could not afford. Andrey Andreyev purchased a property for $850,000 and Vitaliy Andreyev purchased a property for $1.2 million. Kuzmenko promised the Andreyev brothers money in exchange for purchasing the properties and prepared the loan applications for the brothers to sign. The loan applications for the properties contained numerous material false statements, concerning the Andreyevs’ income, assets and intention to occupy the properties as primary residences.

According to court documents, Kuzmenko knew the statements on the Andreyev brothers’ applications were false because she prepared their taxes. Kuzmenko is charged in two separate indictments with wire fraud, mail fraud, money laundering, and witness tampering in connection with this mortgage fraud scheme. The charges against her are merely allegations, and she is presumed innocent until and unless proven guilty beyond a reasonable doubt.

Andrey Andreyev and Vitaliy Andreyev are scheduled to be sentenced on July 22, 2014, by United States District Judge John A. Mendez. They each face a maximum statutory penalty of 20 years in prison and a $250,000 fine. The actual sentence, however, will 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.

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

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