Tampa Mortgage Fraud - Federal Prison

Tampa Federal Criminal Defense Expert notes that the former president of a mortgage company was sentenced to five years and three months and an officer was sentenced to three years and four months in federal prison for their roles in a $79 million Mortgage Fraud Ponzi Scheme. . In addition to restitution, they signed a forfeiture of assets agreement for another $79 million.

A lawyer may be the feds next target. Both defendants had their sentences reduced for the cooperation they have given the government. One defendant allowed federal agents to record telephone calls. The other defendant "wore a wire during a meeting with a Philadelphia lawyer so investigators could gather information about the lawyer being an accessory after the fact" according to published reports in the Tampa Tribune.

The banks lost $68.5 million and the government lost about $9.5 million between 1999 and 2001. United States District Judge, James Whittemore called the crime "a fraud of mammoth proportions."

Source: October 26, 2009 Tampa Tribune

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Florida Mortgage Fraud Federal Prosecution - Tampa Federal Defense Attorney

Tampa Federal Criminal Defense Attorney continues a series of reports on Federal Mortgage Fraud Prosecution in the Middle District Court on the West Coast of Florida. The latest numbers confirm our earlier reports. Here are the latest numbers from Lawyers at the Department of Justice.

Case Summaries:

100 defendants
$400 million in loans
700 properties.

Number of Defendants / Prosecutions By Locale:

Ft. Myers - 32;
Tampa - 30;
Orlando - 19;
Jacksonville - 24.

Additional Information from the FBI DOJ website is available here:

http://tampa.fbi.gov/dojpressrel/2009/ta110409.htm

Under Investigation or think you might be? Tell Me Your Story Toll Free 1-877-793-9290 .

Florida Mortgage Fraud Federal Prosecution - Tampa Federal Defense Attorney

Tampa Federal Mortgage Fraud Conspiracy Attorney on Indictment

What happens if you plead guilty to conspiracy to commit mortgage fraud in federal court? If the amount of money obtained through fraudulently authorized loans is more than $5.3 million and the calculated loss is $1 million to $2.5 million, then the sentence may be up to 20 years with a fine of $250,000.

A typical case involves misstatements in documents used at the closing. For example, a borrower may sign closing documents reflecting a down payment that was never made. A loan closer could prepare documents that do not accurately reflect the facts of a real estate transaction. Fraudulent closing documents are the target of investigations and indictment in Florida's Middle District.

When Federal Criminal Defense help is needed, Board Certified Criminal Trial Lawyer, Attorney W.F. ''Casey'' Ebsary, Jr. is available to. Toll Free 1-877-793-9290.

Tampa Federal Mortgage Fraud Conspiracy Attorney