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55 Condominium Units Used in Fraud
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February 10, 2009
A Southern Florida title company owner has been sentenced to five years in prison for participating in a multimillion-dollar mortgage fraud scheme involving a condominium complex.
Evelyn Rivera, owner of Asset Title LLC, pleaded guilty to her role in a scheme that netted $18.5 million. Officials said they discovered the fraud after $690,000 in fraudulent mortgage loans had been issued on only two units.
An appraiser, Mike Acosta, and a straw buyer recruiter, William Louisma, were also convicted and sentenced to 41 months in prison and 46 months in prison, respectively.
Read story at My Suncoast
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