A Sacramento, California, Realtor has been charged with eight counts of bank fraud for allegedly submitting fraudulent loan applications that enabled clients she represented nearly a decade ago to buy eight homes they did not qualify for.

Gabriela Carter / LinkedIn

Gabriela Carter / LinkedIn

Gabriela Carter, 43, “falsely represented her clients’ income and generated false W-2s and pay stubs for various shell companies that did not, in fact, employ them,” prosecutors alleged. “Many of Carter’s clients were low-income immigrants who did not speak English and were unaware of the false representations.”

News10/KXTV reports Carter was acting as a loan officer when the applications were submitted in 2007 and 2008, and that six of the eight mortgages identified in the indictment ended up in foreclosure.

Carter was indicted by a federal grand jury on Thursday. If convicted, she faces a maximum of 30 years in prison and a $1 million fine.

The charges against Carter are only allegations and she is presumed innocent unless proven guilty beyond a reasonable doubt, prosecutors noted. Records show Carter has held a real estate salesperson’s license since 1995, with no record of disciplinary action.

Email Matt Carter.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription