In February four Miami residents and two Brazil residents were charged with international mortgage fraud. They are reportedly involved in fraudulent mortgage loans for residential properties in Miami-Dade in Palm Beach counties. From October 2005 to May 2007, the six individuals were allegedly involved in $9 million in fraudulent loans. Although charges were pressed in February, the case wasn’t unsealed until Monday, April 6.
The scheme involved Chevy Chase Bank, JP Morgan Chase Bank and Washington Mutual Bank. The allegations go on to say that the son of one of the couple’s involved falsified mortgage applications and related documents to purchase residential properties.
In addition, three companies were named in the indictment. This includes Brickell Financial Corp., Title Closing Partners of Brickell LLC, and Cellular & Wireless Wholesale Corp. All three companies were owned, managed or controlled by several of indicted individuals. It is also alleged that two of the individuals falsified employment records at the wireless company as part of the scheme.
Mortgage fraud cases can be complicated because of the multitude of factors that go into falsifying documentation. These cases fall under Florida Statute 817.545. Under the statute, mortgage fraud is committed if a person, with the intent to defraud, makes material misstatement misrepresentation or omission during the mortgage lending process with the intentions that the false or omitted information will be relied up on by the mortgage lender. Furthermore, individuals who receive any funds in connection with the mortgage lending process that the person knew resulted from intent to defraud. It also includes individuals who file or causes to be filed with the clerk of the circuit court involved in the mortgage lending process, which contains a material misstatement, misrepresentation or omission.
No matter what the indictment is, criminal charges are stressful. A dependable and veteran defense attorney can help individuals charged with white-collar crimes such as mortgage fraud through the complicated process to make sure that their interests are protected.
BizJournals.com, “4 Miami residents indicted in international mortgage fraud scheme,” Nina Lincoff, 8 April 2015