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.