The Real Deal Miami

Palm Beach loan officer sentenced for reverse mortgage scheme

December 20, 2011 10:06AM

A Florida loan officer was sentenced yesterday to 41 months in prison
for his role in a $2.5 million reverse mortgage fraud scheme, according
to Wifredo Ferrer, the United States Attorney for the Southern District
of Florida. Johan Incandela, 25, of Palm Beach, also received an
additional three years of supervised release following the 41 months,
and was ordered to pay $1.9 million in restitution. A fellow participant
in the scheme is set to be sentenced in January. — Alexander Britell