Posted on 07/01/2010 1:51:30 PM PDT by Chunga85
FORT LAUDERDALE, Fla. -- Seven current and former police officers, an FBI agent and a network of attorneys and mortgage brokers are accused of orchestrating a multimillion dollar mortgage fraud in South Florida.
Thirteen were arrested Wednesday after a federal grand jury indictment was unsealed. It alleges the group falsified documents to secure $16.5 million in loans to buy and flip properties at the height of the real estate boom.
(Excerpt) Read more at miamiherald.com ...
http://www.foreclosurehamlet.org/
bttt
bttt
Bad timing.
Eventually this thing is going to pop wide open.
Try to think of them as union members and your expectations won’t be so high.
SPECULATORS (no sense in calling them INVESTORS) "flipping" properties inflated housing costs across the nation. One reason why people found themselves "underwater" when the bubble burst.
What thing is going to pop wide open?
Wow, that Herald article was chock full of information, wasn’t it?
LOL!!!
Here’s a little more for you.
snip>
In a statement, the Plantation Police Department said that in June 2007 it became aware that several of its officers were possibly involved in mortgage fraud and requested the assistance of the Florida Department of Law Enforcement to investigate.
FDLE, along with the U.S. attorney’s office, notified the department in January that three of its officers were targets of a probe. They were immediately placed on administrative leave with pay. On Wednesday, their status was changed to unpaid leave.
One of the officers, Mittauer, used to be a volunteer assistant baseball pitching coach at Dade Christian School, his alma mater.
Lauderhill Police said Wednesday that LaGrasta was placed on paid administrative leave, but declined further comment.
The two mortgage brokers charged in the indictment were Matthew Gulla and Rene Rodriguez Jr.
Jacqueline Trumbore, who worked for Stoll’s company, TurnKey Title Corp., was also named in the indictment. She handled real estate closings and later became another straw buyer in the alleged real estate scam, the charges state.
WELL-KNOWN
Steven Stoll and wife Rebecca are well known in Republican and philanthropic circles in Broward.
Stoll let Republican activists use his mortgage company office to phone bank for Republican candidates, and the Stolls sometimes attended fundraisers, said Bob Wolfe, a Broward Republican activist.
Stoll was one of the lawyers who fought with Broward’s canvassing board about the 2000 presidential recount.
He has given to a handful of federal Republican candidates since 2000 — including $4,800 to Gov. Charlie Crist, who is running for U.S. Senate.
snip>
Read more: http://www.miamiherald.com/2010/06/30/1709699/feds-mortgage-fraud-ring-included.html#ixzz0sT332DA0
Thanks, FRiend!
While ACORN was busy stealing our elections,...
While I am glad that the authorities nabbed these cheats, I would like to see them go after the really big fish in the mortgage fraud pond, i.e., Dodd and Frank.
I’m right with you Bigg Red...commit the crime - do the time.
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