Randy Platfoot, 54, Clearwater, Florida, pleaded guilty to making false statements in mortgage loan applications.
According to court documents, between September 2005 and April 2007, Platfoot applied for two separate mortgage loans from Washington Mutual Bank, in connection with the purchase of properties in Myakka City, Florida, and Sarasota, Florida. In the loan documents that Platfoot signed and submitted to the bank, he made false statements about his income and about the lack of subordinate financing in connection with one of the properties. Washington Mutual Bank suffered financial losses after Platfoot defaulted on both loans.
Platfood faces a maximum penalty of 30 years in federal prison. His sentencing is scheduled for December 18, 2015.
The announcement was made by United States Attorney A. Lee Bentley, III. The case was investigated by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation-Office of Inspector General. It is being prosecuted by Assistant United States Attorney Jay L. Hoffer.