The Real Deal Miami

Prosecutors charge eight in mortgage fraud scheme at Brickell’s Jade condo

June 20, 2012 09:00AM

Federal prosecutors have charged eight defendants in a multi-million mortgage fraud scheme at the Jade condominium in Miami, according to United States Attorney for the Southern District of Florida Wifredo Ferrer. According to the indictment, the defendants engaged in a multi-million-dollar mortgage fraud scheme using straw buyers to purchase residential properties at the Jade condo, which is located on Brickell Bay Drive in downtown Miami. As part of the scheme, the defendants allegedly submitted mortgage loan applications and other documents containing false information to banks. — Alexander Britell