Evelyn Rivera, West Palm Beach, Florida, licensed title agent and owner of Asset Title, LLC, was sentenced to 60 months in prison for her role in a mortgage fraud scheme. As previously reported on Mortgage Fraud Blog, Evelyn Rivera, Mike Acosta and William Louisma were indicted as part of Operation Malicious Mortgage.
Rivera had previously pled guilty to participating to a scheme intended to result in the issuance of $18,500,000 in fraudulent mortgages on 55 condominium units. The fraud was discovered after approximately $690,000 in fraudulent mortgage loans had been issued on two condominium units in a development called the Rookery, in Ft. Lauderdale, Florida.
Also convicted for their role in the scheme were Mike Acosta, a licensed property appraiser, and William Louisma, a recruiter of straw buyers. They were sentenced to 41 months’ and 46 months’ incarceration, respectively. The investigation is continuing.
R. Alexander Acosta, United States Attorney for the Southern District of Florida commended the Palm Beach County Mortgage Fraud Task Force and its members for their thorough investigation on this case. The case is being prosecuted by Assistant U.S. Attorney Nancy Vorpe Quinlan. Also involved in the investigation was Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office. The setencing judge was U.S. District Court Judge Daniel T.K. Hurley.