A Vallejo woman has been sentenced to three years in prison for her role in a money laundering and mortgage-fraud scheme involving more than 18 Northern California properties, federal prosecutors said Friday.

Amy Schloemann, also known as Amy Kinney, pleaded guilty on Aug. 22, to conspiracy to commit wire fraud. She was indicted along with six other people -- including her husband, Karim Akil -- in October 2009.

The sentence was handed down this week in Oakland by U.S. District Court Judge Phyllis J. Hamilton. Schloemann, 36, also was ordered to pay $5.8 million in restitution and sentenced to a three-year period of supervised release.

The charges stemmed from a joint IRS, FBI and Alameda County District Attorney's Office investigation.

According to court documents, Schloemann was the president of Hiddenbrooke Mortgage Company, which operated in Vallejo from 2005 through 2007. Between 2006 and July 2007, prosecutors said she conspired with others to recruit straw buyers for local properties by promising them large sums of money.

As part of the conspiracy, Schloemann supervised others who processed loan packages with false information, including inflated sales prices, and pocketed the profits.

Prosecutors say all but a few properties involved in the conspiracy were foreclosed, causing the lenders to sustain significant losses .

Schloemann, who has been free on $100,000 bail since November 2009, will begin her sentence on July 29.

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©2013 Times-Herald (Vallejo, Calif.)

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