In recent years, financial crimes have presented a major challenge to law enforcement officials in Florida. To combat those crimes, officials have redoubled their efforts to gather information and address challenges early on. They have also fostered connections with federal agencies in order to collaborate on the toughest cases. One such case recently has been a massive mortgage fraud conspiracy.
The case involves dozens of Gulf Coast properties and illicit transactions that are said to total at approximately $40 million. Those transactions occurred primarily between 2004 and 2006. Investigators have been working on uncovering details about it ever since.
The woman at the center of the case, 44, is named in the 45-count indictment along with several others. When the incidents took place, she owned a consulting business and a mortgage brokerage company, playing the primary role in operating both. She worked mostly in concert with a man who is already in federal prison for his role in the alleged scheme, serving a sentence of 10 years. He is not named in the indictment, but is alleged to have worked closely with the woman on illicit transactions.
Together, the two are accused of using the others named in the indictment as straw buyers. According to allegations, they would promise large sums of money to the straw buyers and then use those individual’s names and good credit to get loans.
Mortgage fraud is a serious crime that affects thousands of people. It can cost hundreds of millions of dollars, with millions more spent in investigations. Those accused of such a crime can benefit from the experience of criminal law attorneys experienced in white collar crimes.
Source: LoanSafe.org, “Eight People Indicted for Roles in Massive $40 Million Mortgage Fraud Ring” Evan Bedard, Dec. 20, 2013