Thirteen people have been indicted in a South Florida mortgage fraud scheme that involving around $17 million in phony mortgage loans, and losses of $9.7 million for Wells Fargo, the lender. The 13 people, who were indicted on 18 counts of bank fraud, allegedly used straw buyers to purchase several units at a luxury condo in Miami and single-family homes in Coral Gables and to submit fake loan applications. If convicted, the defendants each could face up to 30 years in prison.
|Tightening of loose cables preceded FIU bridge collapse that killed at least 6: Sen. Rubio|
|Brown Harris Stevens promotes Phil Gutman to president of Miami brokerage|
|Sonny Kahn buys neighboring Golden Beach oceanfront property for a big markdown|
|Developer Andy Ansin, son of billionaire, sells Coral Gables spec mansion|
|Rising construction costs challenge multifamily developers: panel|