Cases of fraud are always unnerving as it usually includes an individual accruing large sums of money at the expense of other individuals. In a recent case of housing fraud, a developer by the name of Lloyd Boggio was charged with multimillion dollar fraud in Miami that impacted low-income families. Rather than face a jury of his peers, Boggio pled guilty in his case.
Boggio and his business partner, Matthew Greer, along with other conspirators, plotted theft on government funds that were being used to subsidize affordable housing developments in Miami-Dade County. As an agreement to his plea deal, Boggio will forfeit two million dollars in frozen assets and a luxury home in Coconut Grove. According to U.S. attorney, Wilfred Ferrer, Boggio and his co-conspirators stole 36 million dollars in federal money that would have been utilized to create housing developments for the needy in South Florida.
Boggio, Greer, and their co-conspirators plundered U.S. tax credits and received a monetary benefit from 14 different government housing developments. These housing projects stretched areas in Miami-Dade from Brownsville to Little Haiti, which were built between the years of 2007 and 2012.
Fraud Plea Bargains and Sentencing
Boggio's partner, Greer, also received a plea deal to testify against Boggio and pled guilty to theft conspiracy on two counts. Prosecutors accused both Greer and Boggio as being connected to a conspiracy that involved other developers who'd previously sought to fraud the government via cost inflation and receipt of kick-backs. Had it not been for the plea bargain taken by Boggio, instead of a 10-year sentencing, he'd have faced near life imprisonment. The potential for his conviction, had he faced a jury of his peers, rested on counts of conspiracy, wire fraud, and money laundering.
If you have been accused or convicted of any white-collar crime in Miami, such as fraud, money laundering, or conspiracy, seek a criminal defense attorney. Contact us for more information about a review of your criminal defense case.
[email protected], B. J. (n.d.). Developer pleads guilty of bilking federal low-income housing fund. Retrieved September 15, 2016, from http://www.miamiherald.com/news/local/crime/article101443382.html