Former real estate sales associate faces 150 years for Florida mortgage fraud

Aaron Ollis, a former licensed Real Estate Appraiser, of Arden, was sentenced to two years of probation, including 12 months and one day home detention, and ordered to pay $10,199,106 in restitution. In addition, George M. Gabler, a former Certified Public Accountant from Fletcher, was sentenced to two years of probation and fined $5,000.

Despite facing a sentence of 150 years, a 39-year-old Massachusetts man will spend the next four years and nine months in federal prison for his role in a mortgage fraud scheme that cost Wells.

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App. 110-11. HUD guidelines confirm that “a buyer can’t walk away from the settlement table with cash.” App. 101. A real estate agent instructor further testified that the practice of “kiting the deal,” or inflating the sales price on a contract, is taught to real estate agents as “obviously committing fraud.

(c) A person who has been licensed as a real estate sales associate in Florida during the preceding 5 years may not be licensed as a real estate broker unless, in addition to the other requirements of law, she or he has completed the sales associate postlicensure educational requirements, if these requirements have been prescribed by the.

Ben Lane. KEYWORDS Florida Florida housing florida mortgage lending florida real estate Mortgage fraud Mortgage fraud investigation. A 39-year-old Florida man faces 150 years in prison after he was recently convicted on multiple counts of bank fraud stemming from his role in a mortgage fraud scheme that cost Wells Fargo nearly $1 million.

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Ex-newspaper publisher and others charged in $10M mortgage fraud scheme. He was also a licensed real estate sales associate and mortgage broker. Mostelac was Laureti’s associate and the owner of several companies, the U.S. Attorney’s Office said. Cabrera was the manager and registered agent of Davie-based Florida Elite Title & Escrow LLC.

Attorneys for the former real estate investor are looking to minimize the prison term he faces for bank fraud under the terms of a plea deal with the government Full. arress real estate 2319 galpin Ave 48073-3112 Royal Oak Michigan

R. E. Agent Pleads Guilty for Defrauding Fannie Mae. According to the plea agreement, Morgan was a licensed realtor who entered into a contract. which prevented Fannie Mae from conducting the foreclosure sale and obtaining title to the. He faces a maximum penalty of five years in federal prison.

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