Jacob A. Korn, of Seattle, entered a guilty plea in Washington’s largest mortgage fraud case. Korn was involved in the scheme that siphoned off millions of dollars from home loans.
Joshua Adam Hicks, writing for The Bellevue Reporter, reveals that Korn did not report real-estate transactions that he helped close and failed to file a 2008 income tax return.
Korn founded Emerald City Escrow which was based in Bellevue.
The article did not say when Korn would be sentenced but he faces a prison sentence of up to one year, five years of probation and a $25,000 fine.
Others indicted in the scheme were Emerald City Escrow co-owner Donata Baydovskiy, mortgage brokers Vladislav Baydovskiy of Bellevue, Viktor Kobzar of Federal Way and Alla Sobol of Renton, as well as Issaquah real-estate agent David Sobol and Renton resident Camie Byron, a loan officer with Kobay Financial Corp. and Nationwide Home Lending.
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