Mortgage fraud is really being cracked down on here in Florida. The FBI has been investigating and if you have any information about fraud rings you need to contact the FBI.
Mortgage fraud hurts everyone, not just the lenders. It affects you and it effects me. And one day you will get caught because that is just the way it is so do not participate in Mortgage fraud. Don't play with fire- you will get burned.
I wrote an article back in November 2007 about Johnson Cuffy and his ring of thieves. Johnson Cuffy was also a mortgage broker and owned a mortgage company. I am very careful NOT to name names in my blog unless I can really back it up. Well, I had received my information about Cuffy from the Palm Beach Post and the Sun Sentinal and also blogs online. I was careful to only report the facts in the case.
Photo Courtesy of WPBF Channel 25 News.
Well, a couple of days after I wrote the post Johnson Cuffy called me and threatened to sue me for writing about his case. I told him everything I wrote was public record and that I only reported the facts. He told me that he was sueing the FBI, the Palm Beach Post, The Sun Sentenal and the Sheriff and promised me he was innocent. He said I was ruining his business by telling over 60,000 ( at that time) real estate agents on Active Rain about his arrest and case.
So I told him that if he was innocent I want to hear his story. That if they are wrong I want to know about it because I believe in fair justice and being innocent until proven guilty so I would give him the benefit of the doubt. I welcomed him to discuss the case with me and I would tell his side of the story to Active Rain members.We made an appointment but he never showed up for his interview. Hmmmm. Strike one.
Then I got these comments on my post about him from one of the tenants, Susan Hair, who leased a house from him. He never paid his mortgage payment and yet she was paying her rent. Then the knock on the door, and the sheriff was there to send her on her way. She is one of his victims and is very angry.You can read her comments in the post I first wrote. She emailed me that he would be on TV last night but I don't watch the news and did not get her email until after it was over. Then today, Nestor brought me the article in the Palm Beach Post that Johnston Coffy has been convicted of Mortgage fraud.
He pled guilty to mortgage fraud and is serving 2 years probation.He was involved with over 13 homes in Palm Beach county and stole more than 1 million dollars from lenders according to Bill McCullum, Florida Attorney General. He labeled Johnson Cuffy as the ringleader.
According to investigators the ring would apply for mortgages and using straw buyers. Then these straw buyers would apply for HELOCs, Home Equity Lines of Credit as soon as the loans closed. The straw buyers kept some of the money and funnelled the rest to Johnson Cuffy through fake businesses.
The victims were Wachovia bank, Bank of America and GMAC mortgage. They would also inflate the price of the house and have the seller give money back at closing. He was also arrested back in 2001 for federal mail fraud.
Well, he just got arrested again Tuesday with a big round of warrants that went out. This happened after Susan Hair kept complaining that he was not paying the mortgage for the house she was renting. After she reported him to the news, he threatened her. This time he was arrested for stealing an identity, taking out a loan and writing checks on that stolen identity.
This is not his last run in with the law. Now he is behind bars. If you or anyone you know has been one of his victims come forward now. The law is asking you to come forward. They are sure this is not the only victim. The charges are just starting against him.
So now you have the rest of the story!
*******************************************************************************
Contact Nestor Gasset and Katerina Gasset, CIPS, Realtors®, International Properties and Investments, Inc. Licensed Realtors® in Florida at 561-753-0135 to list your property for sale or to purchase a property in Wellington, Royal Palm Beach, Loxahatchee, Lake Worth, Hypoluxo Island, Lantana, West Palm Beach and the rest of Palm Beach County Florida and Port St Lucie Florida. We are accepting referrals.
Call us today at 561.753.0135 or Toll Free 800.444.3316. Contact us by email if you prefer by clicking on email me on the right side of this page under our profile.
To view all the Wellington Florida Luxury Homes For Sale Click here and then click on Search For Homes We know Palm Beach County and St Lucie Country; we will help you get your home Sold if you need to Sell your home and help you buy your Wellington Home or Land ; call us today.
Disclaimer:The information provided herein is supplied by several sources and is subject to change without notice. Wellington Homes Blog does not guarantee or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Wellington Homes Blog represent the opinions and ideas of the author(s). Wellington Homes Blog does not express the views of International Properties and Investments, Inc or those of the broker.
P.S. If you are listing your home as a short sale in Palm Beach County Florida and Port St Lucie Florida make sure you hire an agent who knows how to do short sales and has the experience to get the job done. We are doing successful short sale packages. Call us at 561-753-0135 to find out more about Palm Beach County Short Sales and Port St Lucie Short Sales.
Copyright © 2008 By Katerina Gasset, All Rights Reserved.* Mortgage Fraud-Update To Play The Rules!*
Comments(23)