Joseph F. Daniele ,39, Tampa, Florida, has been charged in a criminal complaint for conspiracy and wire fraud affecting a financial institution. If convicted on these charges, Daniele faces a maximum penalty of thirty-five years in federal prison.
According to the criminal complaint, Daniele, while being sued in federal court in Ohio for mortgage fraud, engaged in a mortgage fraud conspiracy involving approximately four hundred homes in the Tampa Bay, Florida area. The conspirators recruited “investors” to buy properties that they already owned. The “investors” never provided any of the down payments for the properties (more accurately, the funds-to-close) as listed in the mortgage loan documents; instead the conspirators provided the down payments. The conspirators duped lenders into making loans on the properties for what the lenders believed to be, for example, was 80% of a properties’ value when, in reality, the loan covered 100% of the value.
United States Attorney A. Brian Albritton made the announcement.
A criminal complaint is merely a formal charging instrument stating that a defendant has committed a violation of the federal criminal laws, and every defendant is presumed innocent unless, and until, proven guilty.