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To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily.In the following press release To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. (pictured left), Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, Michael E. Yasofsky, Special Agent in Charge, Internal Revenue Service, Criminal Investigation (IRS), Henry Gutierrez, Inspector in Charge, United States Postal Inspection Service, John Large, Acting Special Agent in Charge, United States Secret Service (USSS), Jon Rymer, Inspector General, Federal Deposit Insurance Corporation - Office of Inspector General (FDIC-OIG), Kenneth M. Donohue, Inspector General, U.S. Department of Housing and Urban Development - Office of Inspector General (HUD-OIG), Bill McCollum, Florida Attorney General, William N. Shepherd, Statewide Prosecutor for the State of Florida, Don B. Saxon, Commissioner, Florida Department of Financial Regulation, and Al Lamberti, Broward County Sheriff, announced today the launch of a Federal-State Mortgage Fraud Initiative to combat the growing problem of mortgage fraud in South Florida.
As reported by Fannie Mae in June 2007 and by the Mortgage Asset Research Institute in May 2007, Florida led the nation in mortgage fraud rates this past year. Within Florida, South Florida has the highest rate of mortgage fraud in the state.
The Federal-State Mortgage Fraud Initiative brings together the resources of federal and state law enforcement to investigate and federally prosecute mortgage fraud offenders. In cooperation with the Mayor’s Mortgage Fraud Task Force announced last week and focused on the state prosecutions, this federal Initiative promises the aggressive investigation and federal prosecution of mortgage fraud.
As part of the Initiative, United States Attorney Acosta announced several recent mortgage fraud prosecutions, including two cases this week charging 18 individuals in mortgage fraud schemes that resulted in the issuance of more than $50 million in fraudulent loans. Details can be found in separate entries below.
United States Attorney Acosta stated, “The American dream of home ownership is under attack by mortgage fraudsters. Mortgage fraud puts lenders at risk and confronts homeowners with the possibility of foreclosures and the loss of their homes. As our prosecutions reflect, the perpetrators of mortgage fraud range from straw buyers posing as legitimate purchasers, to dirty mortgage brokers and appraisers, to complicit title agents, attorneys and bank loan officers. Through our Federal-State Mortgage Fraud Initiative, the United States Attorney’s Office and our partner agencies will make criminal mortgage fraud prosecutions a top priority.”
Jonathan I. Solomon, Special Agent in Charge of the FBI’s Miami Office, noted “The FBI views mortgage fraud as a significant and growing crime problem. The mortgage lending and housing market have a considerable overall effect on the nation’s economy and combating mortgage fraud will remain a top priority for the FBI.”
IRS Special Agent in Charge Michael Yasofsky added, “Mortgage fraud adds secret dollars to the underground economy that erodes the integrity of our tax system and threatens the financial health of our communities. IRS-CI will continue to utilize its financial investigative expertise to aggressively investigate criminal activities that adversely affect our financial system.”
John Large, Acting Special Agent in Charge of the U.S. Secret Service, noted, “The Secret Service Miami Field Office embraces this new initiative to address the full scope of mortgage fraud schemes that continue to emerge and victimize South Florida. We will bring to bear our expertise and that of law enforcement partners from our Electronic Crimes Task Force and Financial Crimes Task Force to assist in these significant investigations.”
FDIC-OIG Assistant Inspector General Sara Gibson stated, “The FDIC-OIG is proud to participate in the U.S. Attorney’s Office for the Southern District of Florida’s mortgage fraud task force to help combat crimes that affect the nation’s banks and public confidence in our financial system. We applaud the efforts of the U.S. Attorney’s Office and our law enforcement partners in this endeavor.”
HUD Inspector General Kenneth Donohue added, “Financial crimes involving the housing market undermine the economic infrastructure of our country. We will continue to investigate these cases to stop these destructive practices, deter these pernicious activities, and defend the American system of home ownership.”
“The United States Postal Inspection Service is dedicated to working with the U.S. Attorney’s Office and other agencies in the investigation and prosecution of persons who use the mail to engage in mortgage fraud,” said U.S. Postal Inspector Henry Gutierrez.
“With threat of mortgage fraud on the rise, it is imperative that we address this issue as a united front on the local, state and federal levels,” said Florida Attorney General Bill McCollum. “Our citizens deserve as much protection from this criminal activity as we can cooperatively provide and I am proud of the resources my Office of Statewide Prosecution can add to this effort.”
“The Office of Financial Regulation has and will continue to work with law enforcement and prosecutors to combat mortgage fraud in the state of Florida,” said Commissioner Don Saxon.
Acting Broward County Sheriff Al Lamberti stated, “While criminals like these rob the public using a pen rather than a gun, the damage they cause is just as devastating to their victims. Mortgage fraud and other economic crimes can cripple an individual’s livelihood, and wreck havoc for years to come. The Broward Sheriff’s Office is committed to preventing these kinds of crimes.”
Mr. Acosta commended the investigative efforts of all the federal, state and local agencies participating in the Federal-State Mortgage Fraud Initiative, including the Federal Bureau of Investigation, the Internal Revenue Service, the U.S. Postal Inspection Service, the U.S. Secret Service, the Federal Deposit Insurance Corporation - Office of Inspector General, the U.S. Department of Housing and Urban Development - Office of Inspector General, the Florida Attorney General’s Office, the Office of the Statewide Prosecutor for the State of Florida, the State of Florida Department of Financial Regulation, and the Broward County Sheriff’s Office.
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