Orlando Man Arrested for Mortgage Fraud Conspiracy

admin —  August 17, 2009 — 1 Comment

Edwin M. Lugo-Abreu, 34, Orlando, Florida has been arrested on an indictment charging him with mortgage fraud. If convicted on all counts, Lugo-Abreu faces a maximum penalty of 20 years in federal prison.

According to the indictment, Lugo-Abreu devised a scheme to defraud E-Loan, The Lending Group Inc., and WMC Mortgage Corporation by falsifying and fraudulently applying for mortgage financing and fraudulently transferring title ownership of properties used to secure the mortgage financing.

Three other individuals, Alexis Izazaga, Carlos Valentin and Yariel Valentin, have entered guilty pleas and been sentenced in connection with this scheme.

Izazaga was charged in October, 2008 with one count of mail fraud, waived indictment as part of a plea agreement and was sentenced January, 2009 to 2 years probation and $165,000 restitution.

Carlos Valentin was charged in September, 2008 with one cout of wire fraud, waived indictment in October of 2008 as part of his plea agreement and was sentenced February, 2009 to a year and a day in prison, plus $312,750 in restitution.

Yariel Valentin was charged in September, 2008 with one count of wire fraud, waived indictment in October of 2008 as part of a plea agreement and was sentenced February, 2009 to 3 years probation and $147,750 restitution.

An indictment is merely a formal charge that a defendant has committed a violation of the federal criminal laws, and every defendant is presumed innocent unless, and until, proven guilty.

This case was investigated by the United States Postal Inspection Service and the United States Secret Service. It is being prosecuted by Assistant United States Attorney Carlos A. Perez.

This case is part of the Middle District of Florida’s Mortgage Fraud Surge, a joint effort by the U.S. Attorney’s Office for the Middle District of Florida, the United States Postal Inspection Service and the United States Secret Service and numerous other federal, state, and local law enforcement agencies. The Surge focuses intensive investigative and prosecutorial resources on the mortgage fraud crisis that plagues middle Florida and has contributed to the current economic situation nationwide. It is designed to accelerate mortgage fraud cases in order to bring perpetrators to justice quickly and provide maximum deterrence. For more information on the Middle District of Florida’s Mortgage Fraud Surge, please contact Steve Cole, Public Affairs Officer for the United States Attorney’s Office.

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One response to Orlando Man Arrested for Mortgage Fraud Conspiracy

  1. Real Estate Leads August 17, 2009 at 1:28 pm

    I am very upset to heared this news.We should be very carful from such a activity

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