The Real Deal Miami

More guilty pleas in multi-million dollar mortgage fraud scheme at Miami’s Jade condo

October 08, 2012 12:00PM

Four more defendants have pleaded guilty in a mortgage fraud scheme at the Jade condominium in Miami’s Brickell that totaled more than $5.6 million in fraudulently-obtained proceeds, according to United States Attorney for the Southern District of Florida Wifredo Ferrer. Defendants Lilia Casal-Diaz, Raquel DeJesus Martinez, Andres Mendez and Andy Mendez, Jr., have all pleaded guilty. Mendez and Mendez are both real estate brokers. Another defendant in a related case, Jose Arnaldo Rosario, was sentenced in August 2011 for his role in the scheme. Casal-Diaz and Martinez each face a maximum of five years in prison. Diaz and Diaz, Jr. each face a possible statutory maximum sentence of up to 30 years in prison. — Alexander Britell