Miami real estate fraud charges increasingly relying on conspiracy and wire fraud allegations

Four South Florida defendants are each facing a charge of conspiracy to commit wire fraud in connection with an alleged mortgage fraud scheme in Miami.

Our Miami defense lawyers aggressively fight for the rights of clients facing mortgage fraud charges in the wake of the collapsing real estate market. Many of these allegations are made against investors who are guilty of nothing more than losing money in the economic downturn. Having loaned money to anyone with a pulse — without bothering to verify income or other paperwork — banks are now crying foul. However, the government is increasingly turning to conspiracy and wire fraud charges as the easiest way to ensure convictions. The best defense against such charges is an aggressive offense.

In this case, a South Florida attorney and three other Miami-area men are accused of submitting loan applications and closing documents that contained false information. They are each charged with wire fraud, in violation of Title 18, United States Code, Section 1349, which is a conspiracy charge. This means the government does not even have to prove that a crime took place, only that there was planned intent to commit the underlying criminal offense. In this case, wire fraud is charged and the penalty is up to 20 years in prison.

The investigation was conducted by the United States Attorney for the Southern District of Florida, the U.S. Postal Inspection Service, the State of Florida Office of Financial Regulation and the Florida Department of Law Enforcement.

The South Florida Business Journal reports the alleged fraud involved mostly condominiums in Miami-Dade County and led to $6 million in bank loses.