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Mortgage Fraud Archives

Bail Hearing Set For Florida Man Accused Of Real Estate Fraud

After spending several days in a Florida correctional facility without bail, a man implicated in a mortgage scheme was granted a bail hearing in an Orlando courthouse today. The 47-year-old man was arrested on Friday after being the subject of a three-year Federal Bureau of Investigation probe into fraudulent mortgage activities. Two other people who were also implicated in the investigation were granted a $25,000 signature bond and released after making their first appearances in court.

Florida Joins Nevada As Top Mortgage Fraud Hotspot

According to the latest quarterly report from Interthinx, Florida was the state with the highest rates of mortgage fraud during the fourth quarter of 2012. The report categorizes mortgage fraud risk by state, by ZIP code, by property valuation and by occupancy. Florida listed at least three locations among the top ten in each of these categories. This is the second quarter in a row that Florida was atop that list after surpassing Nevada last year.

$8.5 Million In Restitution Ordered In Mortgage Fraud Case

Four defendants who were found guilty and sentenced in September have finally received a restitution order. A mortgage fraud case involving five defendants yielded a substantial restitution order in the Northern District of Florida this week. Four of the defendants were held jointly responsible for more than $8.5 million in damages stemming from mortgage fraud involving ten properties. The fifth defendant was held jointly responsible for more than $2.4 million in damages attached to three of those properties.

Federal Sentencing in the News, Part 2: Celebrity Sentences

This is the second post in a four-part series that looks at some recent headline-grabbing stories in the world of federal sentencing. Although various limits and recommendations exist to help guide sentence decisions, federal judges are ultimately empowered to choose an appropriate punishment. That discretion is sometimes a tool for carefully tailored justice - but it also raises serious concerns in other cases.

A Federal Mortgage Fraud Prosecution in Hindsight, Part 2

Earlier this week, a previous post introduced the story of one defendant who found himself caught up in a massive government investigation after an IRS agent saw him in a TV interview. Based on nothing other than curiosity about how the man could afford to train for a race while still earning a living, the agent started a determined investigation.

A Federal Mortgage Fraud Prosecution in Hindsight, Part 1

Even compared to a 4,600 mile run across the Sahara Desert, 21 months in a federal prison was a harsh punishment for one man who recently completed his sentence. This man served the sentence after his epic desert run to raise awareness for clean water projects in Africa attracted the attention of a determined IRS agent.

Mortgage Fraud Cases Snare 530 Defendants

Federal authorities had a busy two weeks. In addition to the 92 defendants charged in a $432 million healthcare fraud bust last week, the government is now pursuing 530 people for mortgage fraud. The government claims that these defendants cost 73,000 homeowner victims around $1 billion.

Florida Mortgage Case Ends In Plea Deal For Fourth Defendant

In the conclusion to a scheme that began in 2006, a fourth defendant will face a criminal sentencing later this fall. The white collar crime case involved mortgage applications for 12 luxury homes in Florida. Three other defendants-all purported home buyers-are already serving prison terms. This defendant served as their realtor.

Florida Woman Among Nine Charged In Mortgage Fraud Case

Last week, a federal grand jury returned several indictments leveling charges at 9 individuals, including a Boca Raton woman. The charges are for mail fraud and bank fraud, all stemming from an alleged mortgage fraud scheme in California. The group charged is accused of illegal acts concerning 19 total properties in Carmichael, Sacramento and Copperopolis, California. The Florida woman was among several accused of acting as straw buyers in various transactions.

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