Tuesday, May 02, 2017

Scranton Feds Catch Up w/ Local Real Estate Broker Who Allegedly Swindled Over $750K From Prospective Buyers By Peddling Vacant FHA-Foreclosed Homes He Didn't Own; Prosecutor Says Guilty Plea Likely

From the Office of the U.S. Attorney (Scranton, Pennsylvania):
  • The United States Attorney’s Office for the Middle District of Pennsylvania announced today [April 27] that Ignacio Beato, age 46, of Hazleton, Pennsylvania, was charged in a one count criminal information on April 26, 2017, with conspiracy to engage in monetary transactions through a financial institution, with funds that were the proceeds of wire fraud.

    According to United States Attorney Bruce D. Brandler, the information alleges that Beato, who was a licensed realtor, and his coconspirators, engaged in interstate wire communications and Beato falsely represented to potential purchasers that he was authorized to sell vacant conventional and Federal Housing Administration insured mortgaged properties in Hazleton, when in fact, he did not have such authority.

    The information further alleges that Beato solicited and accepted money in the total amount of $751,082 from individuals who believed they were purchasing properties. Beato and his coconspirators fraudulently converted that money to their own personal use.

    The United States also filed a plea agreement, which is subject to the approval of the Court, wherein it is indicated that Beato intends to plead guilty to the charges when he appears in federal court for his arraignment.

Links to this post:

Create a Link

<< Home