Miami Appraiser Cops Plea In South Florida Alleged Cash Back Mortgage Scam

In Miami, Florida, the South Florida Business Journal reports:

• A Miami real estate appraiser has pleaded guilty to wire fraud for her involvement in the Southwest Ranches-area fraud scheme in Broward County, the office of the U.S. Attorney for the Southern District of Florida said. Martine Yanisse Castrillon is one of 15 defendants charged with buying homes through straw buyers at an inflated price, and then getting cash back at the closings. So far, nine defendants have pleaded guilty to various federal charges in the indictment. Castrillon admitted that she did fraudulent appraisals -- valuing the properties at the amount requested by another defendant, not the true market price -- and forged the name of the certified appraiser who was to review her work.

For more, see Miami appraiser pleads guilty to fraud scheme.

Go here for the 9/27/07 U.S. Attorney Press Release announcing the indictment on this case and go here for the Indictment - U.S. vs. Quintero-Lopez, et al.