Florida Mortgage Fraud Defendants Sentenced To Prison

admin —  January 13, 2009 — 2 Comments

Yadira Garrido, Jorge Cordero and Maritza Salan were sentenced in connection with their participation in a mortgage fraud scheme. U.S. District Court Judge Federico Moreno sentenced defendant Yadira Garrido to 51 months in prison, to be followed by three years of supervised release, and ordered the payment of $5,324,000 in restitution. Defendant Jorge Cordero was sentenced to 10 months in prison, three years supervised release, and was ordered to pay $841,863 in restitution. Maritza Salan was sentenced to 60 days in prison, three years of supervised release, and was ordered to pay $841,863 in restitution. Co-defendant Ishmett Nazario was previously sentenced to 41 months in prison, three years supervised release, and was ordered to pay $1,442,000 in restitution.

The defendants were charged for their respective roles in the fraudulent sale of residential property located in Coral Gables, Florida. They subsequently pled guilty in November 2008 to two counts of wire fraud, in violation of 18 U.S.C. §1343.

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. Yadira Garrido purchased the residential property and flipped it to straw buyer Jorge Cordero. Cordero then transferred the property to co-defendant Jose Alvarez, who sold the property to a second straw buyer Maritza Salan. Garrido provided false employment information to the lender to artificially increase Salan’s ability to borrow $1,330,000 in loans to purchase the property. Once the sale to Salan was effected, Salan failed to make a single payment on these loans. The property ultimately went into foreclosure, resulting in a significant loss to the lender.

This case was investigated by agencies participating in the Federal-State Mortgage Fraud Strike Force. Mr. Acosta commends the investigative efforts of the Mortgage Fraud Strike Force with particular commendation to the U.S. Secret Service and Miami-Dade Police Department. The investigation was led by the U.S. Secret Service and Miami-Dade Police Department and was prosecuted by Assistant U.S. Attorney Peter A. Forand.

Be Sociable, Share!

admin

Posts Google+

2 responses to Florida Mortgage Fraud Defendants Sentenced To Prison

  1. Y yo me pregunto, en este caso Donde quedaron las verdaderas personas, que hacen y promueven el fraude hipotecario en estados unidos? no lo saben, la fiscalia lo sabe y yo tambien, PREGUNTEN POR JORGE PULIDO PRESIDENTE DE LEND AMERICA HOME LOANS, PREGUNTENME POR LOS TASADORES QUE LES VOY A DAR LOS NOMBRES A VER SI ALGUIEN SE HACE ECO DE TODO ESTO, Y LAS CONDENAS NO VAN DIRIGIDAS A LAS PERSONAS QUE MENOS TIENEN QUE VER CON ESTO SI NO, AQUELLOS QUE TIENEN EN SUS MANOS LAS DECISIONES DE OTORGAR O NO UN PRESTAMO, ESTE ES UNO DE TANTOS CASOS, DONDE EL PRINCIPAL LADRON ES EL BANCO, TRABAJADORES DEL MISMO, Y SU PROPIO PRESIDENTE, Y AHI ESTAN TODOS EN LA CALLE, AUN LA FISCALIA SABE, Y AHI CONTINUAN EN LA CALLE…..

  2. Anybody know if all the perps listed were legally present in the US at the time the crimes were committed?

Leave a Reply

Text formatting is available via select HTML.

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong> 

*