Vera Kuzmenko, 45, Loomis, California and Rachel Siders, 40, Roseville, California, were found guilty by a federal jury after a 16 day trial of multiple counts of mail and wire fraud associated with their involvement in a mortgage fraud scheme that cost financial institutions over $16 million.
Vera Kuzmenko was also found guilty of witness tampering and money laundering associated with the scheme.
According to evidence presented at trial, from late 2006 through early 2008, the defendants engaged in a mortgage fraud scheme involving over 30 properties in the Sacramento, California, area. The defendants were responsible for securing more than $30 million in residential mortgage loans on more than 30 homes purchased through straw buyers. Records introduced at trial showed Vera Kuzmenko received millions of dollars and Rachel Siders received hundreds of thousands of dollars. Continue Reading…





