The Real Deal Miami

Miami loan officer sentenced for role in mortgage fraud scheme

June 26, 2012 09:00AM

Miami loan officer Alex Curbelo has been sentenced to 54 months in prison for his role in a mortgage fraud scheme that caused more than $9.2 million in losses, according to United States Attorney for the Southern District of Florida Wifredo Ferrer. Curbelo was also sentenced to three years of supervised release and ordered to pay $9.2 million in restitution to the Department of Housing and Urban Development. The scheme involved a conspiracy to create and submit false and fraudulent FHA mortgage loan applications for would-be buyers at the Dadeland Place and Pelican Cove on the Bay condominium projects. — Alexander Britell