Woman Charged with Submitting Fraudulent Loan Applications to Lenders

Allison Tussey —  March 6, 2015 — Leave a comment

Gabriela Carter, 43, Sacramento, California, is the subject of an eight-count grand jury indictment charging her with bank fraud for allegedly submitting fraudulent loan applications to federally insured financial institutions to obtain real estate loans that her clients were not qualified to receive.

According to court documents, from 2007 through 2008, Carter repeatedly submitted fraudulent loan applications to federally insured financial institutions to obtain real estate loans that her clients were not qualified to receive.  In many instances, Carter falsely represented her clients’ income and generated false W-2s and paystubs for various shell companies that did not, in fact, employ them.  Many of Carter’s clients were low-income immigrants who did not speak English and were unaware of the false representations.

If convicted, Carter faces a maximum statutory penalty of thirty years in prison and a $1,000,000 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 charges.

This case is the product of an investigation by the Federal Bureau of Investigation. Assistant United States Attorney Michele Beckwith is prosecuting the case.

 

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Allison Tussey

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