A San Francisco homeowner hoodwinked government officials with the use of a Russian woman’s identity and a web of bank accounts to steal Section 8 cash assistance to pay for his $2.4 million home near Golden Gate Heights.
Gregory Finkelson, 64, has been sentenced to one year in prison for fraudulently obtaining over $340,000 in government housing benefits intended for low-income families, the U.S. Department of Justice announced Wednesday.
The stolen funds were used for personal expenses, including his business, credit card bills, and a Hawaiian timeshare, according to court documents.
Finkelson pleaded guilty to theft of government property and aiding and abetting. U.S. District Judge James Donato handed down the sentence on Monday.
Prosecutors said Finkelson falsely claimed eligibility for Section 8 housing vouchers from 2006 to 2020. He admitted to using a Russian woman’s name to purchase his home on a leafy block of 16th Avenue and falsely reporting her as his landlord. He used multiple bank accounts, including one in the fictitious landlord’s name, to hide his misuse of the cash. The six-bedroom, five-bathroom home is currently listed for rent at almost $10,000 per month.
According to authorities, Finkelson divided the single-family home into three units, renting one while living in another and running his business, American Corporate Services Inc., out of the third.
Finkelson concealed his ownership of the company and the fact that he was the company’s sole president. Instead, he claimed to merely be an employee, reporting an income of $12,000 per year as a notary public for ACS from 2015 to 2017 to qualify for Section 8, prosecutors said. The company, in actuality, accrued $2.8 million in gross income between 2013 and 2018.
ACS was contacted for comment but did not immediately respond.
According to the company’s website, ACS operates its corporate headquarters in San Francisco at 2076 16th Ave., Suite A, and also has branches in Delaware, Washington, Florida, Nevada, and Oregon.
In addition to prison time, Finkelson was ordered to serve three years of supervised release and pay $341,455 in restitution. He is set to begin his sentence on Sept. 16.
The FBI, HUD Office of Inspector General, and IRS Criminal Investigation jointly investigated the case.