The Real Deal Miami

Broward mortgage fraudsters guilty

September 08, 2008 10:39AM

A pair of Broward County residents has pleaded guilty in a mortgage fraud scheme involving 25 properties and more than $10 million in fraudulent home loans in Broward County, according to federal prosecutors. Marcia Mestre, 51, of Wilton Manors and Angela Manalaysay, 35, of Plantation, pleaded guilty of conspiracy to commit mail and wire fraud and one count of mail fraud, respectively. Mestre faces up to five years in jail for her crime, while Manalaysay faces up to 20 years. Both could be fined up to $250,000. Four other defendants will be tried in November.