Fraudulent Flipping Of One South Florida Home Lands Four In Federal Can

In Miami, Florida, the U.S. Attorney's Office announced that Yadira Garrido (51 months in prison, 3 years probation, & $5.3+ million in restitution), Jorge Cordero (10 months, 3 years probation, and $840,000+ in restitution), and Maritza Salan (60 days, 3 years probation, and $800,000+ in restitution) were sentenced last week for their roles in the fraudulent flipping of one residential property in Coral Gables.

• According to the Indictment and statements made during the pleas, the defendants transferred the residential property three times within approximately one year, resulting in almost doubling the price of the property from $780,000 to $1,400,000.

The property ultimately went into foreclosure, resulting in the lender taking a hit. Another defendant, Ishmett Nazario, previously was sentenced to 41 months in prison, 3 years probation, and was ordered to pay over $1.4 million in restitution.

For the U. S Attorney press release, see Mortgage Fraud Defendants Sentenced To Prison.