The Real Deal Miami

Posts Tagged ‘mortgage fraud’

  • Former North Miami mayor convicted of mortgage fraud

    Tondreau split proceeds from $8M scheme with mortgage company
    December 17, 2014 11:15AM
    Former North Miami Mayor Lucie Tondreau

    Former North Miami Mayor Lucie Tondreau

    Former North Miami Mayor Marie Lucie Tondreau was convicted of mortgage fraud on Tuesday after a 12-day jury trial in federal court.

    Tondreau, the city’s first Haitian-American female mayor, was found guilty of conspiracy and wire fraud, which reportedly began through her radio show in June 2013, before she took office.

    She was accused of signing up straw buyers for fraudulent loans on 20 properties through the radio show, according to published reports. [more]

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  • Boca Raton loan fraud ringleader to serve 11 more years in prison

    Jason Vitulano also ordered to pay $5.9M in restitution
    December 09, 2014 03:50PM

    Mortgage fraud

    A convicted loan fraud ringleader in Boca Raton was reportedly sentenced to 11 years in prison followed by three years of supervised release for his crime.

    The new sentence for Jason Vitulano will be served concurrently with time he is doing for convictions in two other mortgage fraud cases. [more]

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  • Prison sentences for three convicted of $50M mortgage fraud

    Bank of America, Sun Trust Bank among entities defrauded
    December 08, 2014 05:05PM
    Four others were previously sentenced.

    Four others were previously sentenced.

    The last three members convicted in a mortgage fraud scheme involving multiple lenders have received lengthy prison sentences from a federal judge in Miami.

    The scheme was reportedly led by Miami resident Domencio Rabuffo, who was previously sentenced to 27 years in prison. [more]

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  • Federal mortgage fraud trial begins for North Miami mayor

    Lucie Tondreau and co-defendants accused of bilking banks for $11 million
    December 02, 2014 12:45PM
    Lucie Tondreau

    Lucie Tondreau

    Suspended North Miami Mayor Lucie Tondreau is in Miami federal court today as opening statements begin in her mortgage fraud trial.

    Tondreau is accused along with three co-defendants of defrauding banks of $11 million during the South Florida real estate boom, according to published reports.

    Prosecutors allege that Tondreau and businessman Karl Oreste used Creole-language radio talk shows to advertise Oreste’s KMC Mortgage Corp and reel in straw borrowers.  [more]

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  • Ft. Lauderdale broker busted for alleged mortgage fraud

    Chris White is also being charged with lying on a citizenship application
    September 16, 2014 01:30PM
    sfl-christopher-white-20140915

    Christopher White

    South Florida broker Christopher White has been busted for allegedly committing mortgage fraud, as well as lying on a citizenship application form.

    The Fort Lauderdale resident was already negotiating a plea agreement for fraudulently obtaining a $5 million mortgage on a Las Olas Isles mansion when federal authorities busted him on immigration charges, according to the Sun-Sentinel. [more]

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  • $50M Miami-based mortgage fraud scheme uncovered

    Ten people, including mortgage company owner and two developers, hit with indictments
    August 29, 2014 10:30AM

    Gavel-new315-304Ten federal indictments were handed down over a $50 million mortgage fraud scheme based in Miami.

    Hector Hernandez, owner of Great County Mortgage Bankers, was charged with wire fraud earlier this week. Seven of his employees were also indicted, along with developers Armando Bravo and Aleida Fontao. [more]

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  • Seven face charges over $50M mortgage fraud

    Miami indictment ties scheme to N.C. development
    January 13, 2014 12:45PM

    Gavel-new315-304Seven Floridians face allegations of running a $50 million mortgage fraud, according to an indictment filed in Miami.

    The defendants are accused of running a fraud scheme tied to mountain-view property sales in North Carolina from 2003 to 2008, Daily Business Review reported. Lenders allegedly victimized by the scheme include Bank of America, Regions Bank and Wachovia Bank. Straw buyers were recruited to acquire properties in the Hampton Springs development in Cashiers, N.C. [more]

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  • Feds in SoFla charge 10 with mail, wire fraud

    Indictment claims group fleeced distressed borrowers
    December 27, 2013 11:15AM

    Gavel-new315-304Ten men have been charged with perpetrating a South Florida-based mortgage modification fraud that fleeced homeowners out of at least $7 million.

    A federal mail and wire fraud indictment was filed in West Palm Beach against the men, Daily Business Review reported. According to the indictment, Jason Vitulano of West Palm Beach orchestrated a telemarketing operation as president of FHA All Day. Vitulano and nine alleged co-conspirators targeted borrowers behind on mortgage payments through telemarketing calls. [more]

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  • Florida leads the nation in mortgage fraud

    Florida had the most mortgage fraud activity of any state in the country during the fourth quarter of 2012, according to Dallas-based website Mortgagedaily.com, the South Florida Business Journal Reported.

    Mortgagedaily.com’s national mortgage fraud index fell to its lowest level in five years, but the rate of mortgage fraud in Florida went up in the same period, the Business Journal noted. During the fourth quarter, the site reported $246.9 million in mortgage fraud cases in Florida. California was next on the list, at $194.3 million. [more]

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  • Jade

    A group of six defendants have been sentenced in a  multi-million-dollar mortgage fraud scheme at the Jade condominium in Miami’s Brickell neighborhood, according to U.S. Attorney for the Southern District of Florida Wifredo Ferrer. The defendants include Lilli Casal-Diaz, Andres Mendez, Andy Mendez, Jr., Josephine Santana, Jose Rafael Martinez and Basilio Gomez. All have been sentenced to terms of imprisonment for their roles in a scheme that netted more than $5.6 million. The longest sentence went to Andres Mendez, who received five years in prison. — Alexander Britell

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