SANTA ANA, Calif. (AP) — A former Fannie Mae employee was sentenced in Southern California to more than six years in prison for arranging discounted sales of Fannie Mae-owned properties to herself and real estate brokers in exchange for cash kickbacks, federal prosecutors said.
Shirene Hernandez, 47, was also ordered Tuesday to pay $982,516 in restitution to Fannie Mae, the U.S. Justice Department said in a statement.
Her scheme resulted than $120 million in sales and more than $3 million in corrupt commissions to brokers, according to prosecutors.
A jury last year found Hernandez guilty of two counts of wire fraud. She had pleaded not guilty.
Hernandez worked as a sales representative for Fannie Mae in Irvine, California from 2010 to 2015
The brokers who benefited from sales from H