Leader Of Mortgage Fraud Ring Pleads Guilty
Mortgage Fraud Blog
Lazaro Villalba pleaded guilty to one count of conspiracy to commit bank fraud, wire fraud and mail fraud, in violation of Title 18, United States Code, Section 1349. Villalba faces a statutory maximum sentence of twenty (20) years in prison and a fine of up to $250,000. Sentencing is scheduled for May 16, 2008, before the Honorable William J. Zloch, United States District Court Judge for the Southern District of Florida.
Villalba is one of fifteen defendants previously charged in a wide-ranging mortgage fraud scheme (United States v. Henry Quintero-Lopez et. al. Case No 07-60207-CR-ZLOCH). According to the Indictment, Lazaro Villalba and other co-conspirators orchestrated a scheme through which they located properties for sale in the Southwest Ranches area of Broward County, Florida, then fraudulently purchased the properties through straw buyers and received cash back at the closings.
Read more at the Mortage Fraud Blog.
Lazaro Villalba pleaded guilty to one count of conspiracy to commit bank fraud, wire fraud and mail fraud, in violation of Title 18, United States Code, Section 1349. Villalba faces a statutory maximum sentence of twenty (20) years in prison and a fine of up to $250,000. Sentencing is scheduled for May 16, 2008, before the Honorable William J. Zloch, United States District Court Judge for the Southern District of Florida.
Villalba is one of fifteen defendants previously charged in a wide-ranging mortgage fraud scheme (United States v. Henry Quintero-Lopez et. al. Case No 07-60207-CR-ZLOCH). According to the Indictment, Lazaro Villalba and other co-conspirators orchestrated a scheme through which they located properties for sale in the Southwest Ranches area of Broward County, Florida, then fraudulently purchased the properties through straw buyers and received cash back at the closings.
Read more at the Mortage Fraud Blog.
posted by Lincoln Appraisal at
7:49 AM
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