A federal jury found Hoda Samuel, 60, of Elk Grove, CA guilty of a conspiracy to commit mortgage fraud.
After a 10-day trial in Sacramento, Samuel was found guilty on 30 individual counts of mail fraud.
Samuel, a licensed real estate broker and owner of Liberty Real Estate & Investment Co., served as a real estate broker for 30 transactions which defrauded lending institutions, according to court documents.
Court records showed Samuel’s conspirators and employees at Liberty Mortgage prepared loan applications with false financial information. When lenders called to verify information, they got Liberty employees who verified the false information.
In about half of the transactions, Samuel also served as the seller’s representative. In all but one of the transactions, she secured financing for the buyer.
At least 28 of the properties went into foreclosure, representing a loss to lenders of more than $5.5 million, according to court records.
Samuel is scheduled to be sentenced April 30.