An incredible amount of money flows through the Florida real estate market. This provides a temptation for many to take advantage of that flow of money by committing financial malfeasance to get some of it. This happens in mortgage fraud cases, including one in which the two defendants, both Florida residents, were just sentenced.
The state of Florida has faced a large number of high-profile fraud cases in recent years. One of the reasons for that is that there are many people wanting to tap into the massive flow of money from benefit programs. A lot of the same people are engaging in other white collar crime cases, such as identity theft.
Throughout Florida, authorities are working to stem financial crimes. This often means working with authorities from other states as well, since the transactions made are often in multiple areas and cross state lines. This was true in a recent tax crime case, which involved a Florida-based tobacco distributor who was accused of avoiding the payment of taxes that he owed for online cigarette sales made in Kentucky.
Because of the extensive Florida coastline, financial crimes in the state often involve suspects fleeing authorities by sea. This was reportedly the case recently, as a migrant from Cuba was arrested while at sea by authorities who had pursued him in regards to multiple charges against him in a recent indictment. The charges include money laundering and Medicare fraud.
Financial malfeasance can occur at all levels, from someone selling credit card numbers off the street to high-ranking bankers accused of fraudulent activity with large sums of money. The latter is at the center of a new Florida tax crime case, wherein U.S. authorities have now charged a prolific UBS banker with tax fraud. The latest development in the case involves a Florida judge agreeing to delay the trial for eight months.
Florida authorities work hard every year to combat financial crimes. They have their hands full, as the Sunshine State is often the target for schemes that focus on its rich real estate market, and the huge amount of money that changes hands in that market. Some cases of financial malfeasance occur across many years, as is true in a series of mortgage fraud crimes attributed to a Delray Beach resident.
Florida authorities continue to pursue those believed to have engaged in fraudulent conduct in the field of health care. Often, the conduct involves the transfer of substantial amounts of money, even tens of millions of dollars. This holds true in a recent Medicare fraud case, where a man, 53, just pleaded guilty in a $28.3 million scheme. His plea was heard in the U.S. District Court of the Middle District of Florida. He now faces sentencing for his part in the matter, with a court date for that pending. The maximum penalty he may face is 15 years.