The Real Deal Miami

Palm Beach mortgage scammer pleas guilty

September 05, 2008 11:52AM

Berry Louidort is the third in a ring of five alleged mortgage scammers to plead guilty to fraud charges. He admitted to a scheme wherein mortgages were borrowed to purchase 37 Palm Beach County properties and seven Naples properties. The loans were larger than the sale prices, and the difference was pocketed by the scammers. The first two coconspirators plead guilty last month. As part of the plea bargain, Louidort has forfeited $6.5 million and a 2008 Mercedes.