Wednesday, September 10, 2008
Broker’s Trial Continued To 2009
Samir Nel Cabrera, 31, Fort Meyers, Florida, was indicted on charges that he devised a scheme to defraud, to obtain money, and to deprive persons and entities of the intangible right of honest services. The Indictment charges that the defendant perpetrated an investment fraud involving undisclosed transfers, or flips, of real property and same-day closings. A status conference was held on September 8, 2008. At the conference, Cabrera‘s counsel requested a continuance of a trail date until the January 2009 term. The court granted the continuance without objection from the prosecution.
As previously reported by Mortgage Fraud Blog, a Florida limited liability company controlled by Samir Cabrera, STR & Associates, LLC, purchased two parcels of undeveloped real property and then flipped the properties on the same days to real estate investment limited liability companies controlled by Cabrera and funded by investors. The flipped properties were: 13701 Fiddlesticks Blvd, Fort Meyers, Florida and 13800 Fiddlesticks Blvd, Fort Meyers, Florida. The LLC’s involved were: Samir Cabrera, 13701 Fiddlesticks Blvd, LLC, and Samir Cabrera, 13800 Fiddlesticks Blvd, LLC. According to the Indictment, gains created by the flips were $900,000 and $1.9 million, almost all of which Cabrera misappropriated from the investment funds of investors in these real estate investment limited liability companies.
The Indictment charges that Cabrera converted these funds to his own use and the use of others. The Indictment also charges that Cabrera embezzled additional funds from one of the companies in the amount of $20,100.00. He is charged with executing the scheme to defraud by causing persons or entities to send wire transfers of money to a Fort Myers bank account under his control.
If convicted, he faces a maximum term of imprisonment of 20 years, a maximum fine of $250,000, a term of supervised release of 3 years on each of four counts. He would also be ordered to pay restitution to victims of the offenses and forfeit any property constituting or derived from proceeds obtained as a result of the offense.
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The number of frauds involving professional advisors, such as accountants and lawyers, has increased from two to four since March 2008.
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Trial coverage provided by Anne Mitchell, Crazy Fish Realty.
F. Jeffrey Miller Update - October 20, 2009
A hearing was held in Topeka, Kansas in front of Judge Julie Robinson. Miller is currently being held pending his sentencing which is set for December 22nd, 2009 at 9:00 a.m.. Steve Vanatta and Hallie Irvin, Miller's codefendants, will be sentenced at that time also.
Several motions were heard this week. One was a motion for Miller to be released pending his sentencing. Miller's attorney, Jeff Morris, argued that the court had dismmissed with predjudice the matter involving Miller's purchase of a commercial lawnmower, violating the court ordered monitoring agreement. He also argued that Miller was not a flight risk and should be released. This motion was denied.
Another motion heard by Judge Robinson was that of an escrow account containing proceeds from the sale of Miller's forfeited assets. This account has a balance of $143,000. Attorney Morris argued that his firm was due $100,000 for work done in the Miller matter, to date. The government argued that his 'un-itemized fees' were 'exhorbitant'. The balance of the funds, Morris argued, should be released to the Miller family to help pay for mounting household expenses.
The government argued that the 'Asset Forfeiture Provision' applies down to 'the last penny' and that 'the rights of the victims to made whole are of paramount immportance' and that no routine household expenses like Visa bills, are allowed.
Attorney Morris argues that there is more than enough assets to satisfy the jury's judgement of $2.65 million dollars. The government argues that the estimated value of his assets are only $1.4 million.
The government also stated that Miller has been paid dividends from a company Miller has an ownership interest in; Boreflex. From July, 2008 to present, Miller has been paid $330,509.30 from Boreflex, unbeknownst to the court appointed monitor.
Present in the courtroom was Todd Earnshaw. Earnshaw was indicted along with Miller and others in what is commonly referred to as 'Miller I'. That trial is scheduled to begin on January 11, 2010 in Topeka, Kansas.
More Trial Coverage
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Rachel Dollar, the editor of Mortgage Fraud Blog, is an attorney and Certified Mortgage Banker who handles litigation for lending institutions and secondary market investors. She is an author and a nationally recognized speaker on the topic of mortgage fraud. Ms. Dollar is a shareholder with the law firm of 
