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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 Smith Dollar, PC, is licensed to practice law in California and maintains offices in Santa Rosa, California. Email Ms. Dollar
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Miami Combo Of Mortgage Fraud, Marijuana And Money Laundering
Manuel Pupo, a/k/a Tata, Elieser Pupo, Serguey Pupo, Elmer Pupo, a/k/a Elmes, Maritza Perez, Noel Albanes-Gomez, Omar Cardenas, Zenaida Rodriguez and Magalys Fajardo, a/k/a Magalys Rodriguez, all currently of Miami, Florida, were indicted for their roles in a diverse scheme to defraud lenders, among others.
As set forth in the Indictment, from on or about March 2, 2004, and continuing through about May 1, 2008, Manuel Pupo, a/k/a Tata, Elieser Pupo, Serguey Pupo, Elmer Pupo, a/k/a Elmes, Maritza Perez, Noel Albanes-Gomez, Omar Cardenas, and Zenaida Rodriguez were the buyers and sellers of real estate in St. Lucie County, Miami-Dade County, Lee County, Columbia County, and Marion County, Florida. At least ten of the houses were purchased through fraudulent mortgage applications, and after purchase, were used and maintained as marijuana grow houses. The defendants made false representations of material facts in mortgage applications, thereby causing mortgage companies to issue mortgages for the purchase of 18 houses.
The Indictment further alleges, on a number of the fraudulent transactions, the loan officer was defendant Magalys Fajardo, a/k/a Magalys Rodriguez, who was employed by mortgage brokers, LendAmerica Home Loans, Bluetrust Capital, and Monster Mortgage, Inc. As part of the mortgage lending process, the defendants, via Magalys Fajardo, a/k/a Magalys Rodriguez, allegedly submitted fraudulent Uniform Residential Loan Applications, Requests for Verification of Employment, Requests for Verification of Deposit, IRS Forms W-2, payroll stubs, bank statements, as required by the mortgage lenders, through the mortgage broker to the lender for review and credit worthiness approval. The aggregate dollar amount of all loans procured fraudulently by the defendants from the mortgage lenders exceeded six million dollars.
Finally, the Indictment alleges that defendants conducted money laundering transactions in an effort to conceal the source of the money and continue to promote the illegal activity. In addition to the criminal charges, the Indictment seeks to forfeit any proceeds that the defendants received from the marijuana grows and the mortgage fraud.
The Indictment charges conspiracy to manufacture and possess with intent to distribute more than 1,000 marijuana plants, in violation of Title 21, United States Code, Sections 841(a)(1) and 846; 5 counts of manufacturing and possessing with intent to distribute varying numbers of marijuana plants, in violation of Title 21, United States Code, Section 841(a)(1); 5 counts of maintaining a place to manufacture and distribute marijuana, in violation of Title 21, United States Code, Section 856(a)(1); conspiracy to commit mail fraud, in violation of Title 18, United States Code, Section 1349; 15 counts of mail fraud, in violation of Title 18, United States Code, Section 1341; conspiracy to commit money laundering, in violation of Title 18, United States Code, Section 1956; 14 counts of money laundering, in violation of Title 18, United States Code, Section 1956; and related forfeitures.
If convicted, the conspiracy to manufacture and possession with intent to distribute 1000 or more marijuana plants counts carry a statutory maximum penalty of 10 years’ to life imprisonment; the manufacturing and possessing with intent to deliver 100 or more marijuana plants counts carry a maximum penalty of 5 years’ to 40 years’ imprisonment; the manufacturing and possessing with intent to distribute more than 50 marijuana plants carry a statutory maximum penalty of 5 years’ imprisonment; the conspiracy to maintain a place to manufacture and distribute marijuana counts carry a statutory maximum penalty of 20 years’ imprisonment; the maintaining a place to manufacture and distribute marijuana counts carry a statutory maximum penalty of 20 years’ imprisonment; conspiracy to commit mail fraud counts carry a statutory maximum penalty of 20 years’ imprisonment; and the mail fraud counts carry a statutory maximum penalty of 20 years’ imprisonment.
R. Alexander Acosta, United States Attorney for the Southern District of Florida commends the investigative efforts of the Port St. Lucie Police Department, the Drug Enforcement Administration and the Internal Revenue Service. The case is being handled by Assistant United States Attorneys Carmen Lineberger, Diana Acosta and Antonia Barnes.
Anybody know if these perps were legally present in the US when the crimes described were committed?
Posted by on 01/16 at 11:49 AM
They are Cuban, dry foot, legal
Posted by on 01/20 at 09:07 AM
This is very similar to what happened in an episode of the show “Weeds” where homes were purchased for the purpose of acting as grow houses. I didn’t think this actually would happen in real life and on such a large scale.
Failed Mortgage Firm Trustee Allowed $50,000 in Fees Union Leader
U.S. Bankruptcy Court Judge J. Michael Deasy will approve $50,000 in legal fees for the trustee of failed mortgage brokerage businesses Financial Resources Mortgage Inc. and CL&M Inc.
Bend Oregon Event to Help Homeowners Prevent Foreclosures Oregon.Gov
As part of an ongoing effort to help homeowners avoid foreclosure, state agencies are organizing a foreclosure-prevention event in Bend on Saturday, March 27, 2010.
Shelbyville Man Gets 2-Year Sentence For Loan Fraud Chattanoogan.Com
Prosecutor Gary Humble said the lost was approximately $2.3 million in the mortgage fraud involving hundreds of homes in the Shelbyville area.
Lend America, VP Ashley Banned from FHA Housing Wire
Michael Ashley, the embattled former vice president of Federal Housing Administration (FHA)-backed mortgage originator Lend America, and the company he worked for, were permanently banned from doing business in the industry last week.
Countrywide Tries to Pin Blame on Insurer Court House News
Countrywide Home Loans demands $111 million from Triad Guaranty Insurance, claiming Triad is trying to blame mortgage lenders for the insurer's role in the housing bubble and collapse.
Investors Say They Were Swindled in Property Scheme Fox 13 Now
Utah Division of Consumer Protection is joining forces with a few investors who claim they have been cheated by an agency called "Utah Mini Ranches.
Greenfield Man Accused of Housing Scam The Republic
A former real estate agent conned at least eight people by renting them properties actually owned by a federal agency and then running off with their deposits, prosecutors said.
Appraisal Institute Opposes Obama Administration's Plan for Homeowner 'Short Sales' PR News Wire
Citing concerns about increased mortgage fraud, four organizations representing more than 35,000 real estate appraisers today voiced their opposition to changes to an Obama administration program that will encourage "short sales" of homes.
Ownership Rights to Get Another Look TBO.Com
State lawmakers may beef up protections of property owners' rights by rewriting a law this spring that is at the center of a case of alleged fraud in Pasco County.
Thursday, February 18, 2010 F. Jeffrey Miller Trial Continued Testimony
As reported by Anne Mitchell, who viewed the trial:
Angela Parenza worked for Jeff Miller as the office manager for 7 or 8 years beginning in 1998. Parenza was indicted along with Miller and pled guilty to conspiracy to commit bank fraud and money laundering. Parenza testified that Miller or his contractors allegedly preferred to build all the...
Wednesday, February 10, 2010 F. Jeffrey Miller Trial Coverage Continued - Witness Testimony
Steve Middleton Testimony - Coverage Provided by Anne Mitchell
The Government continued in its cross examination of Steve Middleton. He was shown several HUD-1 statements involving sales of homes located in Overland Park, KS, and Olathe, KS. The HUD statements each allegedly showed line items of payments to (James) Moser & Associates, LLC's...
Monday, February 01, 2010 F. Jeffrey Miller Trial Coverage - Continued Witness Examination
According to Anne Mitchell, who is present in court for the trial:
Next Witness: Kelly Sanford
Kelly Sanford of the Federal Reserve was a short witness for the Government. Sanford manages electronic payments between banks and member financial institutions. He was shown copies of wire transfers and asked whether they coincided with the counts in...
Wednesday, January 27, 2010 F. Jeffrey Miller Trial - Prosecution Witnesses Continued
According to Anne Mitchell, who is viewing the trial:
January 13, 2010
Witness: Rick Hayes
Rick Hayes testified that on the day that he closed on his Miller Enterprise home, he received a phone call from the Kansas Banking Commission informing him that his loan was fraudulent. After the Hayes responded to a classified ad, they met with John...
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The information and notices contained on Mortgage Fraud Blog are intended to summarize recent developments in mortgage fraud cases and mortgage banking matters nationwide. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about mortgage banking, mortgage fraud matters or who believe they require legal counsel should seek the advice of an attorney. The creators, editors and sponsors of Mortgage Fraud Blog do not intend to create a confidential relationship or an attorney-client relationship by communication via or arising from this site.
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 
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