The Real Deal Miami

Miamian avoids mortgage fraud conviction

February 25, 2009 10:46AM

A purchase of a $2 million luxury condo resulted in the prosecution and eventual acquittal of a Miami man accused of being part of a mortgage fraud ring. Fyzali Ron Shah was indicted with five others and charged with being part of an alleged mortgage fraud scheme at the Jade on Brickell Bay Drive. Shah’s attorney, Edward J. O’Donnell IV, said he showed that his client bought a $2 million condo in the belief that it was a legitimate deal. In reality, the entire loan application was fraudulent, but the lawyer said Shah wasn’t aware that was the case. Another defendant was acquitted and four others pleaded guilty before trial.