Man Charged with Defrauding Lender

Allison Tussey —  November 19, 2012 — Leave a comment

Daniel Gherasim, 36, Citrus Heights, California, was indicted by a federal grand jury for bank fraud, false statements on a loan and credit application, money laundering, and structuring in connection with an alleged scheme to defraud a bank in obtaining a home equity loan.

According to the indictment, in November 2008, Gherasim submitted a fraudulent loan application for a Home Equity Line of Credit (HELOC) he took out on a home he owned at that time in Folsom, California. The application inflated the amount of equity he had in the property. After receiving the $215,800 HELOC, Gherasim transferred the money to another bank account he held, in part by writing checks to himself in amounts over $10,000. The indictment alleges that Gherasim then withdrew money from that account in increments ranging from $490 to $9,500 in order to evade currency reporting requirements.

Gherasim is out of custody on a $100,000 bond. He is scheduled to be arraigned before U.S. Magistrate Judge Dale A. Drozd.

If convicted, Gherasim faces a maximum penalty of 30 years in prison and a $1 million fine. The actual sentence, if convicted, 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.

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

United States Attorney Benjamin B. Wagner announced the charges.

This case is the product of a joint investigation by the Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation. Assistant United States Attorney Lee S. Bickley is prosecuting the case.

Allison Tussey

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