In recent years, there has been rise in mortgage fraud and real estate fraud. As a result, the federal government has become active in investigating and prosecuting alleged mortgage fraud schemes involving investors, brokers and straw buyers. Because the consequences of conviction are so severe, it is critical to hire an experienced defense lawyer who can provide you with proper representation in mortgage fraud or real estate fraud cases.
Experienced Defense, Aggressive Representation
Attorney Frank A. Rubino, Esq. has a wealth of knowledge and experience handling federal white collar crime cases, such as those involving mortgage fraud or real estate fraud. In his 30 years of practice, he has earned a reputation for his success in large-scale criminal cases at the state, federal and international levels. He provides aggressive criminal defense representation to investors, brokers, alleged straw buyers and other individuals facing allegations of mortgage or real estate fraud.
Understanding Fraud Charges
Mortgage fraud/real estate fraud involves schemes to defraud a federally insured lending institution (a bank). There are various mortgage fraud schemes, ranging from silent second schemes and foreclosure schemes to schemes involving inflated appraisals and air loans. Most mortgage fraud or real estate fraud cases involve one of the following:
- Nominee/straw buyer loans to purchase property: A straw buyer is used to purchase property for an investor who may not otherwise have qualified for the loan due to multiple other property loans. While the investor had the intention to resell the property within months for profit, the sudden drop in the market causes the investor to default and get caught in the property-flipping scheme. While the property-flipping scheme had legitimate and legal intentions, the investor faces fraud charges for the deception used to purchase the real estate.
- Inflated appraisals: Straw buyers are used to purchase property on behalf of an investor. The property is sold and repurchased several times, each time at a higher price through the use of corrupt appraisers, title companies and other individuals. Proceeds are often pocketed by the investor, appraiser, broker or other interested party.
Why You Need a Skilled Attorney
Mortgage fraud and real estate fraud charges are very serious. Defendants may be prosecuted not only on the actual loss caused by the mortgage fraud scheme, but also on the intended loss. While prosecutors use every tactic available to inflate the intended loss in federal mortgage fraud cases, Mr. Rubino has the experience to effectively challenge the valuations and minimize the intended loss, thus reducing the potential consequences his clients face.
If you are facing allegations of real estate or mortgage fraud, contact Frank A. Rubino, Esq. to discuss your case. He represents clients across the United States and around the world, and maintains offices in Houston and Miami.
An Office Equipped for Success Against Mortgage Fraud Allegations
The law offices of Frank A. Rubino, Esq. are equipped to handle multimillion-dollar mortgage fraud defenses, including mortgage fraud accusations made in conjunction with other allegations such as mail and wire fraud, tax fraud and money laundering. This includes the knowledge, skill and resources to strategically build strong defenses. When the feds accuse you of fraudulent solicitation of homeowners facing foreclosure sales, of straw buyer schemes, of fraudulently obtaining home loans or making misrepresentations on loan applications, you can be assured that you are working with absolute top-quality legal representation.
Increased Prosecution of Real Estate Fraud
The federal government, at the request of lenders, has significantly increased its investigation and prosecution of real estate fraud involving silent second schemes, foreclosure prevention schemes and straw buyers purchasing property for an investor who may not otherwise have qualified for a loan.
The sudden drop in the real estate market has caused significant problems for property investors who may have had legitimate and legal intentions of purchasing properties for later resale, but who were then stuck with properties that could not be sold. These investors, and the straw buyers who helped them purchase multiple properties, are now facing real estate fraud charges for deception used to purchase the property.
Less common in the current real estate climate is real estate fraud involving inflated appraisals in which a property is purchased and repurchased several times, each time at a higher price, with the proceeds being pocketed by an investor, appraiser, broker or other interested party.
It's Not Too Early to Call
Frequently people learn of a federal criminal investigation before they have been charged. Regardless of where you are in the legal process, it is best to have an experienced federal tax fraud defense attorney by your side. The intervention of an attorney can result in charges being dropped or less significant charges being filed.
It doesn't matter how you found out about the problems — whether your title company notified you, your bank contacted you or federal agents knocked on your door. If you suspect you are being investigated, get defense attorney Frank A. Rubino, Esq. on your case early. Call 866-718-3994 today.
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