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Prominent Florida Attorney, Wife & 7 Others Arrested for Mortgage Fraud
There is a major news story out today around the state about a prominent Ft. Pierce attorney and his wife who have been arrested on racketeering and conspiracy-related charges as part of a mortgage fraud scheme. Transactions occurred in St. Lucie, Martin, Marion, Lake, Columbia and Alachua counties. Seven other people were also arrested from around the state. According to DBPR records, one of them was an active real estate agent and Appraiser, another was a licensed real estate agent, and another was a licensed General Contractor.
This story is an excellent example of why Real Estate professionals and the public must be on their toes and stay on top of what is going on. We have recently had several attempts from "buyers" wanting to "Stop Foreclosure" by having the seller sign over their warranty deed as well as sign a Power of Attorney before they close on the house. We're seeing lots of buyers wanting to present offers on more than one property and then "see" which one gets accepted first. It's a crazy market and people are wanting to do crazy things.
According to the news article, in this particular case the couple acted as Straw Buyers and signed documents for loans that they never ... more
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