South Florida Men Sentenced in $9 Million Mortgage Fraud Scheme
An elaborate mortgage fraud scheme ended with defendants Oscar Bravo, 58 of Port St. Lucie, Jorge Bravo, 57 of Miami, and Sean Dickens, 44, of West Melbourne, Florida being sentenced to thirty-seven (37) months in prison on charges of conspiracy to commit mail and wire fraud.
According to a press release issued by the U.S. Attorney’s Office for the Southern District of Florida, a co-conspirator located residential properties for sale. The defendants then purchased the properties, with a plan to flip them for a profit after some property enhancements. The properties were 100% lender financed. The price of the properties was falsely inflated in their mortgage applications with the difference between the actual price and the inflated mortgage loan used to make payments on the mortgage loan and to pay for repairs to the properties.
In total, this mortgage scheme involved approximately $9 million in fraudulent mortgage loans. Click on the link to read the full press release.
Contact Fort Lauderdale mortgage fraud attorney Howard N. Kahn, Esq., if you or someone you know has been the victim of commercial mortgage fraud. Mr. Kahn is an experienced mortgage fraud and litigation attorney. He works with commercial lenders or borrowers in cases involving mortgage fraud or other distressed properties. You can him at 954-321-0176 or online.
