Maria L. Lozada, 40, Miami, Florida, Carlos Cano, 53, Delray Beach, Florida, Robyn L. Colon, 34, Boynton Beach, Florida and Jose L. Colon, 52, Boynton Beach, Florida, have been charged with one count of conspiracy to commit bank fraud, in violation of Title 18, United States Code, Section 1349, and eight counts of substantive bank fraud, in violation of Title 18, United States Code, Section 1344. Through this scheme, the defendants allegedly defrauded three banking institutions and other lenders of more than $6 million in loans. If convicted, the defendants face a maximum statutory sentence of 30 years on each count of conspiracy and bank fraud.
The indictment alleges that the defendants were involved in the financing of five residential properties in Miami-Dade County, Florida. According to the indictment, Maria L. Lozada would identify properties that could be used to defraud lenders and then recruited Cano and the Colons to pose as purchasers of the properties. The defendants prepared loan applications that contained fraudulent statements about the purchasers’ employment, assets and intent to live in the properties. Lozada would use her company, Southeast Florida Marketing, to receive mortgage proceeds and cash rent payments derived from the properties. Eventually, the defendants stopped making payments on the mortgages and the properties went into foreclosure.
The foreclosures resulted in approximately $2.5 million in losses to Chevy Chase Bank, Chase Bank, Washington Mutual and other lenders.
Jeffrey H. Sloman, United States Attorney for the Southern District of Florida, Michael K. Fithen, Special Agent in Charge, U.S. Secret Service, and James K. Loftus, Director, Miami-Dade Police Department made the announcement.
Mr. Sloman commended the efforts of the U.S. Secret Service and the Miami-Dade Police Department. This case is being prosecuted by Assistant U.S. Attorney Cristina Pérez Soto.
An Indictment is only an accusation, and the defendants are presumed innocent unless and until proven guilty.