Florida Attorney General, Pam Bondi announced on Wednesday that her office, in cooperation with Miami-Dade Police, has arrested 12 persons in connection with a multi-million mortgage fraud scheme.
The defendants are alleged to have submitted fraudulent mortgage loan documents to mortgage companies throughout the South Florida area. Those arrested submitted 10 mortgage loan applications that were funded and collectively valued at more than $16 million.
“With our country’s housing market in distress, it is imperative that we do everything in our power to eliminate mortgage fraud in our state,” said Bondi in a statement. “I am grateful to the Miami-Dade Police Department for their partnership in cracking down on this fraud and helping restore integrity to Florida’s market.”
“Today the Miami-Dade Police Department’s Mortgage Fraud Task Force has again arrested numerous individuals who conspired in a major mortgage fraud criminal enterprise. These arrests should send a direct message that the MDPD will not tolerate illegal business practices by those individuals who choose to continue to contribute to the downfall of the national, state and local mortgage industry,” said James K. Loftus, director of the Miami-Dade Police Department.
See List of Defendants and Charges Here.
