Gilberto Luna, 59, Miami, Florida, was arrested on charges relating to a mortgage fraud scheme. Luna plead guilty on or about March 22, 2011, and will be sentenced in April 2011.
The investigation began in October 2009 after the Florida Department of Law Enforcement (FDLE) received information from a financial lender concerning suspected fraudulent transactions. The investigation revealed that between October and December 2007, Luna allegedly provided false information on loan applications to fraudulently obtain five properties in Florida counties: Brevard, Orange, and Miami-Dade, valued at more than $1 million.
The investigation also revealed that Luna received more than $95,000 in compensation from wire transfers and checks from companies involving a closing agent. In 2008, the properties went into foreclosure and Luna filed for bankruptcy.
Luna was arrested September 30, 2010, and charged with five counts of mortgage fraud, one count of grand theft, and one count of scheme to defraud. He was booked into the Turner Guilford Knight Correctional Center.
The FDLE announced the arrest.