Miami real estate fraud scheme snares mother and son

A mother and son pleaded guilty this week to mortgage fraud charges in Miami-Dade County, the South Florida Business Journal reported.

The Miami mortgage fraud case cost lenders between $7 million and $20 million. The number of real estate fraud cases has exploded since the collapsing of the housing market and the economic recession; South Florida fraud cases are likely to continue for years to come as investigators and the courts continue to play catch-up. Anyone who is victimized by mortgage fraud or charged with a crime in connection with a real estate transaction, should contact a Miami real estate fraud attorney to discuss their legal rights.

In this case, the son owned Go Expert Mortgage and Go Expert Real Estate, with offices on Brickell Avenue. He acted as the broker on several deals, while his mother was a loan processor that secured mortgage loans for residential properties. Both pleaded guilty to conspiracy to commit bank fraud, the Sun-Sentinel reported.

The 30-year-old man was sentenced to five years in prison, while his mother was sentenced to four years behind bars. Both were sentenced to five years of supervision upon their release.

The two were among nine people indicted in September in connection with a Miami mortgage fraud scheme that involved an attorney, a real estate appraiser and straw buyers. Authorities report that the fraud involved properties in Miami and Miami Beach.