Jaime Vaca, 42, Fort Lauderdale, Florida, was arrested December 13, 2010, on mail fraud charges, in violation of Title 18, United States Code, Section 1341. Vaca made his initial appearance in court before U.S. Magistrate Judge Linnea Johnson.
According to the indictment, Vaca was employed at Sun Trust Bank. In February 2005, Vaca allegedly provided false Verification of Deposit forms for borrowers submitting mortgage loan applications through The Lending House Inc., a mortgage brokerage firm located on North Federal Highway, Fort Lauderdale, Florida. The indictment alleges that The Lending House paid Vaca approximately $1500.00 for providing fraudulent Verification of Deposit forms for The Lending House borrowers, which were ultimately submitted to mortgage lending companies.
If convicted, Vaca faces a maximum statutory term of imprisonment of up to 30 years and up to 5 years of supervised release.
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service, J. Thomas Cardwell, Commissioner, State of Florida Office of Financial Regulation, and Amos Rojas, Special Agent in Charge, Florida Department of Law Enforcement (FDLE), Miami Field Office, announced the arrest.
Mr. Ferrer commended the investigative efforts of the U.S. Postal Inspection Service, FDLE, and State of Florida Office of Financial Regulation. The case is being prosecuted by Assistant U.S. Attorney Laurie Rucoba.
An indictment is only an accusation and a defendant is presumed innocent until proven guilty.