|Temperature: 54.3°F | Humidity: 98% | Pressure: 30.11in (Steady) | Conditions: Clear | Wind Direction: North | Wind Speed: 0mph|
PUGET SOUND MAN GOES TO PRISON FOR HUGE MORTGAGE FRAUD SCHEME
January 12, 2010
(SEATTLE, WA) – Thirty-two year old Viktor Kobzar of Federal Way, a mortgage broker, was sentenced Monday in U.S. District Court in Seattle to five years in prison and three years of supervised release for conspiring to commit bank fraud, mail fraud and other charges related to a massive mortgage fraud scheme.
Viktor Kobzar was a mortgage broker who, with co-defendant Vladislav A. Baydovskiy, operated two brokerage companies, Nationwide Home Lending LLC and Kobay Financial Corporation; and established a third company, Emerald City Escrow, to close transactions involving fraudulently obtained loans.
Kobzar was one of six people arrested in March 2009, on a grand jury indictment for a mortgage fraud scheme that defrauded more than a dozen banks and mortgage lenders of more than $47 million.
According to records filed in the case the defendants secured through “straw buyers” and otherwise unqualified purchasers at least 68 loans, representing at least $46 million in loan proceeds, based on false and fraudulent representations.
All of the fraudulently obtained loans were closed at Emerald City Escrow.
Employees and principals at Kobay and Nationwide prepared and submitted falsified loan applications and related verification documents to lenders in a scheme to conceal the fact neighborhoods with abandoned houses and properties in disrepair,” Assistant United States Attorney James Oesterle wrote in his sentencing memo.
Last month co-defendant Vladislav A. Baydovskiy was sentenced to five years in prison and four other defendants in the case were sentenced in December 2009.
Camie Byron, 28, of Renton, a loan officer, was sentenced to two years in prison. Alla Sobol, 28, of Renton, a mortgage broker, was sentenced to two years in prison, and her husband, David Sobol, 40, of Issaquah, a real estate agent, was also sentenced to two years in prison.
Sandra Thorpe, 55, of Shoreline, an accountant who falsified income statements and employment verification letters, was sentenced to probation and 200 hours of community service.