FBI Agent, Police Officers and Others Charged for Investment Scheme

Allison Tussey —  July 1, 2010 — 7 Comments

Joseph Guaracino, 32, Plantation, Florida, former Plantation police officer;

Steven Stoll, 43, Fort Lauderdale, Florida, attorney;

Stephen Orchard, 34, Boca Raton, Florida, attorney;

Matthew Gulla, 35, Davie, Florida, mortgage broker;

Rene Rodriguez, Jr., 37, Plantation, Florida, mortgage broker;

Dennis Guaracino, Jr., 34, Plantation, Florida, former Plantation police officer;

Jacqueline Trumbore, 39, Margate, Florida, assisted in real estate closings, and later became a straw buyer;

John Velez, 37, Plantation, Florida, former Plantation police officer;

Daryl Radziwon, 39, Plantation, Florida, Plantation police officer;

Casey Mittauer, 37, Cooper City, Florida, Plantation police officer;

Joseph DeRosa, 35, Coral Springs, Florida, Plantation police officer;

Robert DePriest, 41, Plantation, Florida, FBI Agent; and

Joseph LaGrasta, 31, Tamarac, Florida, current Lauderhill police officer, have each been indicted on mortgage fraud charges.

The Indictment charges the defendants with one count of conspiracy, in violation of Title 18, United States Code, Section 1349, eleven counts of mail fraud, in violation of Title 18, United States Code, Section 1341, thirteen counts of wire fraud, in violation of Title 18, United States Code, Section 1343, and eight counts of making a false statement to a government agency, in violation of Title 18, United States Code, Section 1001. Two defendants are charged with obstructing justice, in violation of Title 18, United States Code, Section 1512. Not all defendants are charged in all counts. The conspiracy, mail fraud, wire fraud and obstruction of justice counts, each carry a maximum penalty of up to twenty years’ imprisonment. The false statement counts each carry a maximum penalty of five years’ imprisonment.

According to the Indictment, the defendants engaged in a scheme to enrich themselves by fraudulently causing real property in Broward and Palm Beach Counties to be bought and sold by submitting, and causing to be submitted, false and fraudulent documents to mortgage lenders in order to obtain the loans. The title attorneys falsely represented to the mortgage lenders the source of the deposits/down payments and/or the cash from borrowers needed to close the transactions. The total dollar amount of the loans secured under the scheme was in excess of $16,000,000 dollars.

More specifically, at times relevant to the Indictment, Joseph Guaracino would locate properties to be purchased and negotiated sale contracts along with co-defendants. In order to qualify for mortgage loans, Guaracino and others, caused false information to be submitted to lenders, including forged lease agreements, false bank account balances, and inflated income or salary levels. Dennis Guaracino, Jr., Jacqueline Trumbore, John Velez, Daryl Radziwon, Casey Mittauer, Joseph DeRosa, Robert DePriest and Joseph Lagrasta were investors in the fraudulent real estate investment scheme, who along with others, purchased the properties that Guaracino controlled.

Steven Stoll, a licensed mortgage broker and a licensed attorney, and Stephen Orchard, also a licensed attorney, participated in the scheme by handling the closings of the fraudulently procured loans, along with licensed mortgage brokers Matthew Gulla and Rene Rodriguez, Jr.

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, Amos Rojas, Special Agent in Charge, Florida Department of Law Enforcement, John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service, and J. Thomas Cardwell, Commissioner, State of Florida’s Office of Financial Regulation, announced today that an Indictment was unsealed at the Fort Lauderdale Federal Courthouse against the defendants.

U. S. Attorney Wifredo Ferrer stated, “This indictment charges a group of individuals who conspired to enrich themselves by committing mortgage fraud. It includes a number of professionals who betrayed their profession for greed, and in the process, undermined the integrity of the mortgage marketplace on which we all rely. Our Office is determined to continue to bring to justice those who engage in such pervasive criminal schemes.”

Special Agent in Charge John V. Gillies of the FBI Miami Division stated, “The FBI will continue to work with our law enforcement partners to investigate allegations of fraud.”

“Once again, a complex mortgage fraud scheme in South Florida has resulted in additional arrests on serious charges,” said Amos Rojas, Jr., Special Agent in Charge of the Florida Department of Law Enforcement’s Miami Regional Operations Center. “Those accused of mortgage fraud – no matter what their role – have left a path of destruction with far too many victims in South Florida, and we will continue to aggressively target, arrest and prosecute those involved in this crime. Justice will be served.”

Commissioner Tom Cardwell of the Florida Office of Financial Regulation stated, “This is an example of how unlawful practices have blemished the mortgage industry and caused damage to Florida’s economy. The Office of Financial Regulation is implementing new rules and regulations regarding qualifications and enforcement that we believe will help protect consumers and create a more sound and stable industry for the benefit of our citizens and economy.”

Mr. Ferrer commended the investigators for their hard work and dedication in this long term investigation by the Florida Department of Law Enforcement, Federal Bureau of Investigation, U.S. Postal Inspection Service, and State of Florida’s Office of Financial Regulation. This case is being prosecuted by Assistant U.S. Attorneys Laurie E. Rucoba, Jeffrey Kay and Michael Patrick Sullivan.

An Indictment is merely an accusation and a defendant is presumed innocent unless and until proven guilty.

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Allison Tussey

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7 responses to FBI Agent, Police Officers and Others Charged for Investment Scheme

  1. rene rodriguez,

    is this scum bag going to prison or what? he has stolen millions, what is going to happen to him? may be he will try to rat on everyone again like he did the first time he got pinched for moving coke……

  2. The mortgagor is no longer responsible for payment and the lender takes ownership of the property. Upon disposition, the amount of loss may be pursued against the perpetrator either by criminal charges or civil deficiency judgments.

  3. Fraudulent contracts are null and void. A judge can require restitution for the actual lost incurred not for the anticipated profit plus fines and penalties. Even if you wanted to keep the property providing a false statement to obtain a loan generally leads to criminal charges and you and your assets are treated like a crook. You do not gain the benefit.

  4. THATS JUST DANDY BUT WHEN IS THE FRAUD GOING TO BE EXPOSED IN TEXAS?? FBI IS SLOW TO INVESTIGATE IN HOUSTON.INFORMATION WAS TURNED OVER TO HARRIS COUNTY D.A. AND WHEN HARRIS COUNTY TURNED IT OVER TO TO THE U.S. ATT THE GREAT FBI GIRL DID NOT LIKE THAT.BECAUSE IT WOULD COME BACK TO THE FBI.

  5. Does anyone know who was charged with what?

  6. Yikes. Where do you get all of this information, anyway?

  7. “Once again, a complex mortgage fraud scheme in South Florida has resulted in additional arrests on serious charges,” said Amos Rojas, Jr., Special Agent in “Charge of the Florida Department of Law Enforcement’s Miami Regional Operations Center. “Those accused of mortgage fraud – no matter what their role – have left a path of destruction with far too many victims in South Florida, and we will continue to aggressively target, arrest and prosecute those involved in this crime. Justice will be served.”

    Justice for mortgage fraud in SFL is about 10,000 short….

    Commissioner Tom Cardwell of the Florida Office of Financial Regulation stated, “This is an example of how unlawful practices have blemished the mortgage industry and caused damage to Florida’s economy. The Office of Financial Regulation is implementing new rules and regulations regarding qualifications and enforcement that we believe will help protect consumers and create a more sound and stable industry for the benefit of our citizens and economy.”

    Tom you need to review your department…

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