Florida Federal Jury Convicts Six Straw Buyers In Alleged Scam Involving $15M+ In Fraudulently Obtained Loans; $5M+ In Lender Losses

Th U.S. Attorney for the Southern District of Florida, jointly with several other law enforcement officials, recently announced that:

• [A] jury convicted the remaining six defendants, Jaqueline Perez-Castillo, Yanny Cruz Pavon, Lizabeth Perez, Erick Clavijo, Aurora Ramentol, and Ester Crespo of fraud in the matter of United States v. Juan Torrens, et al, [...]. The six defendants convicted were straw buyers in a mortgage fraud scheme in South Florida that resulted in more than $15,000,000 in fraudulent loans, and losses of more than $5,000,000 to lenders. With [last Thursday's] convictions, all 31 of the defendants originally charged have been adjudged guilty.(1)

For more, see Jury Convicts Last Six defendants Involved In Multi-Million Dollar Mortgage Fraud Scheme.

For a copy of the original indictment, see United States of America vs. Torrens, et al.

(1) According to the U.S. Attorney's press release, "this case revolves around defendants Juan Torrens, the de facto owner of Amsouth Trust & Investment Corp. (“Amsouth”) and president of Countryside Land & Development, Inc., Rachael Torrens, president of 1st Choice Realty of South Florida, Inc. and de facto owner of First United Mortgage USA Corp., Daniel Ramos, Alfonso A. Muxo, a State of Florida certified real estate appraiser and owner of Palm Bay Real Estate Appraisals, Inc., and Katherine Harris, former president and part owner of Floridian Home Title Corporation, all of whom were charged with conspiracy to commit wire fraud and/or wire fraud for their participation in a massive mortgage fraud scheme. Their scheme involved fraudulent mortgage loans obtained for the purchase of 28 properties located in Miami-Dade and Broward Counties, and in the City of Marco Island. All those charged in the conspiracy pled guilty, and are awaiting sentence."

The press release continues: "Also charged in the Indictment were defendants Mario E. Diaz, Aurelio Pozo, Oscar Barreiro, Lellany Rodriguez, Jose Asensi, Carlos Morales, Damaris Jimenez, Lizabeth Perez, Mario Blanco, Rene Rodriguez, Tamaris Angulo, Alicia Loaiza, Ester Crespo, Jesus Enrique Guevara, Janette Lugo, Priscilla Fleitas, Erick Clavijo, Luis DeJesus Planas, Moises Llorens, Milva Roque, Aurora Ramentol, Gladys Lens, Nancy Fundora, Yanny Cruz Pavon, Roger Rosario and Jacqueline Perez-Castillo (“the straw buyer defendants”). These defendants were charged with wire fraud for their participation in this mortgage fraud scheme."