A former real estate agent from Sacramento has pleaded guilty to lying on mortgage applications to buy three homes in Elk Grove, federal authorities announced Thursday.
Dameene R. Dedrick, 39, in 2005 and 2006 lied to obtain the three mortgages, which had a combined value of $1.1 million, according to United States Attorney Benjamin B. Wagner.
"Dedrick falsely represented his income, employment, and earnings, and submitted false W-2 Wage and Earning Statements to get the loans," Wagner's office said in a press release. "Dedrick purchased the three houses with 100 percent financing and claimed that each was his primary residence."
Concord resident and real estate salesperson Roy L. Rice, 46, assisted Dedrick and pleaded guilty to bank fraud on Sept. 13.
Dedrick's charges were two counts of bank fraud and a count of mail fraud.
Dedrick and Rice will be sentenced on Feb. 28 and Jan. 3, respectively. They face up to 30 years in prison and a fine of $1 million for each charge.