Seventeen individuals from Florida have been charged for a complex mortgage fraud scheme against various FDIC-insured lenders from 2007 and 2008, according to the United States Department of Justice (USDOJ).
The defendants were charged in a 17-count indictment with conspiracy to commit bank fraud and various substantive bank fraud offenses, in violation of Title 18, United States Code, Sections 1349 and 1344.
The defendants operated various companies such as mortgage brokerages and marketing firms to help perpetuate the fraud of obtaining home loans for unqualified borrowers. The borrowers were buying condo units in two condominium projects on the west coast of Florida: Portofino at Largo, also known as Indian Palms, in Largo, Florida; and Bayshore Landing, in Tampa, Florida.
According to the USDOJ, Miguel Soto, Jr. was the acting manager of two Florida companies that sold the condominium units to the unqualified buyers: Indian Palms Holdings, LLC, and 5221 Bayshore, LLC. Hector Raul Santana served as the Director of Sales for Indian Palms Holdings, LLC.
Maria Rosa Diaz was the president of Crisvan Investment Group, Inc., a Miami-based mortgage broker business that prepared and submitted the unqualified buyers’ fraudulent loan applications and supporting documents to the lenders.
Miguel Faraldo, Jenny Nillo, Jorge Angel Sola, and Heberto Elias Gamboa operated “marketing companies” that were used to launder the fraudulently obtained loan proceeds and perpetuate the fraud scheme. In particular, Faraldo operated All Florida Marketing, Inc., Nillo and Jorge Sola operated One Stop Consulting Solutions, Inc., and Gamboa operated HHWC Management Group, Inc.