Four Arrested On Bank Mail And Bank Fraud Scheme

SACRAMENTO (CBS13) - Four people were arrested Monday on suspicion of mail fraud and bank fraud in a scheme that allegedly scammed victims out of almost $1 million.

Olga Palamarchuk, 41, of Rancho Cordova, Pyotr Bondaruk, 40, of Sacramento, Peter Kuzmenko, 33, of West Sacramento; and Vera Zhiry, 32, of Sacramento were arrested Monday on seven counts, according to US Attorney Benjamin Wagner.

According to court records, Palamarchuk, a loan officer at Capital Mortgage Lending Inc. recruited Bondaruk to purchase two houses using 100 percent financing and obtain a home equity line of credit on one of the houses. To qualify for the loans, Palamarchuk and Bondaruk allegedly submitted fraudulent loan applications to lenders, falsely stating Bondaruk's employment, income, and intent to occupy the homes as his primary residence.

The indictment alleges in order to get more money out of the houses, the defendants diverted a $32,378 in "seller's proceeds" to be paid to Kuzmenko of Pete's Pool Service for repairs and improvements for work never actually done on the property. And $100,000 was paid to Zhiry to pay off a purported second mortgage. These two payments were a means to siphon fraudulently inflated equity out of the two properties.

If convicted, the four suspects face a maximum of 20 years in prison for conspiracy to commit mail fraud, 10 years in prison for money laundering, and a $250,000 fine. If convicted of bank fraud, Palamarchuk and Bondaruk face a maximum of 30 years in prison and a $1 million fine.

Kuzmenko was recently indicted in a separate mortgage fraud scheme in this district.

The suspects are scheduled to appear in court at 2 p.m.