An equestrian estate in the heart of Wellington, FL was involved in an international mortgage fraud scheme by six individuals who were using fake documents to purchase mansions in Miami and throughout Palm Beach County.
I’m all for finding loopholes, but to think you are going to buy mansions by fooling US Banks with fraudulent mortgage documents is nothing short of stupidity.
According to reports, the six individuals behind the scheme were living in Miami and Brazil.
The six defendants named in the federal indictment are:
-Raul Enrique Quintana, 48, of Miami
-Maura Barbosa Lopez, 55 of Brazil
-Arnaldo Almeida Prado Neto, 33 of Brazil
-Evelyn Lara, 47, of Miami
-Luis Enrique Sosa, 43, of Miami
-Juan Osiel Gonzalez, 54, of Miami
The Wellington estate, now owned by a tour-level dressage rider was purchased in 2006 by one of the defendants in the federal case for $3.2 million. Prosecutors allege the buyer submitted a fraudulent loan application and closing documents to score a more than $2 million loan.
The defendants were charged with conspiracy to commit bank fraud and wire fraud affecting a financial institution, and various counts of bank fraud offenses punishable by up to 30 years in prison.
As if the public shaming that comes along with trying to pull such a mockery of a fraud stunt wasn’t enough punishment.