Miami-based developer faces indictment linked to Tampa project

Mordechai Boaziz is charged with misleading banks and a federal agency to obtain $15M of loans in connection with a condo conversion in Tampa

May.May 05, 2018 01:45 PM

Mordechai Boaziz (Credit: Flickr)

Mordechai Boaziz, director of Miami-based Maverick Investments, was indicted on federal charges of conspiring to lie to banks and a federal agency.

His attorney in Tampa, John Fitzgibbons, said Boaziz is innocent and intends to fight the indictment. Boaziz could face a $1 million fine and as many as 30 years in prison.

The charges against Boaziz stem from his acquisition of an apartment complex in Tampa in the late 2000s to convert the property to a condominium.

The indictment indicates that Boaziz and others misled banks and the U.S. Department of Housing and Urban Development (HUD) by failing to disclose financial incentives to induce purchases of condominium apartments at The Preserve on Sanctuary Cove Drive in Tampa.

Misleading the banks and HUD allowed Boaziz to obtain $15 million of mortgage financing, according to the indictment. [Gainesville Sun] – Mike Seemuth

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