The Real Deal Miami

Jail terms for mortgage scammers

April 28, 2008 03:12PM

Three schemers in a $37 million mortgage fraud centered around South Beach luxury condos received prison terms from a federal judge last week. Former mortgage broker Richard Crowder II, the owner of America’s Best Mortgage Services in Coconut Creek, received a nine-year prison term. He was accused of luring buyers in a fraudulent no-money-down financing scheme to purchase 17 condos in Continuum on South Beach and at the Point of Aventura.  His accomplices, the owner of Deerfield Beach-based Four Star Title and a former Wachovia loan officer, were sentenced to 46 months and 50 months, respectively.