Felipe Nunez pled guilty to one count of money laundering, in violation of Title 18, United States Code, Section 1956(a)(1)(A)(I). Sentencing is scheduled for February 29, 2008.

Nunez is one of fifteen defendants charged in a wide-ranging mortgage fraud scheme in United States v. Henry Quintero-Lopez et al. Case No 07-60207-CR-ZLOCH. This case was part of the September 27, 2007 Federal-Sate Mortgage Fraud Initiative announced by the U.S. Attorney’s Office. As previously reported by Mortgage Fraud Blog, and according to the Indictment in the case, defendants Henry Quintero-Lopez, Lazaro Villalba, and thirteen others orchestrated a scheme through which they located properties for sale in the Southwest Ranches area of Broward County, Florida fraudulently purchased the properties through straw buyers and received cash back at the closings.

Felipe Nunez admitted in court he was paid $20,000 to purchase two properties selected by Quintero-Lopez and Villalba. Nunez faces a statutory maximum sentence of twenty (20) years in prison on the money laundering count and a fine of up to at least $500,000 or the amount of money laundered whichever is greater.