Jury Convicts California Woman In Straw Buyer Fraud

Rachel Dollar —  August 3, 2016 — Leave a comment

Alla Samchuk, 45, Roseville, California, was found guilty in a mortgage fraud scheme involving three properties after a four day jury trial in Sacramento, California.  Samchuk was convicted 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. After the verdict, U.S. District Court Judge Garland E. Burrell Jr. ordered Samchuk taken into custody.

According to court documents, from 2006 through 2008, Samchuk, a licensed real estate salesperson, orchestrated a mortgage fraud scheme involving three properties in the Sacramento area using straw buyers. Two of the houses were purchased so that Samchuk herself could occupy them. She lacked the ability to qualify for a loan, so she instead 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 was to obtain HELOC (home equity line of credit) funds. According to evidence at trial, on two of the properties, Samchuk diverted or attempted to divert HELOC funds to her own benefit. Samchuk caused the HELOC loans to fund by submitting false statements and documents to the lender regarding the qualifications of the straw buyers.

The scheme involved two properties in Roseville, California and one in El Dorado Hills, California. In 2007, Samchuk filed an application for a HELOC 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 HELOC was home improvement, but once the line of credit was funded, Samchuk quickly diverted all of the funds to her own use, spending the proceeds on a Lexus and the repayment of a substantial personal debt.

Sentencing is set for October 21, 2016. Samchuk faces a maximum of 30 years in prison for each count of bank fraud and false statements to a financial institution, 10 years in prison for money laundering, and two years in prison for aggravated identity theft.

The verdict was announced by Acting U.S. Attorney Phillip A. Talbert. This case is the product of an investigation by the Federal Bureau of Investigation and the Internal Revenue Service-Criminal Investigation. Assistant U.S. Attorneys Audrey B. Hemesath and Andre M. Espinosa are prosecuting the case.

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Rachel Dollar

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