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Randy Platfoot, 54, Clearwater, Florida, pleaded guilty to making false statements in mortgage loan applications.
According to court documents, between September 2005 and April 2007, Platfoot applied for two separate mortgage loans from Washington Mutual Bank, in connection with the purchase of properties in Myakka City, Florida, and Sarasota, Florida. In the loan documents that Platfoot signed and submitted to the bank, he made false statements about his income and about the lack of subordinate financing in connection with one of the properties. Washington Mutual Bank suffered financial losses after Platfoot defaulted on both loans.
Platfood faces a maximum penalty of 30 years in federal prison. His sentencing is scheduled for December 18, 2015.
The announcement was made by United States Attorney A. Lee Bentley, III. The case was investigated by the Federal Bureau of Investigation and the Federal Deposit Insurance Corporation-Office of Inspector General. It is being prosecuted by Assistant United States Attorney Jay L. Hoffer.
Moctezuma Tovar, 46, Sacramento, California and Sandra Hermosillo, 53, Woodland, California pleaded guilty to conspiring to commit wire fraud in connection with a mortgage fraud scheme.
According to court documents, Tovar was the founder and president of Delta Homes and Lending Inc., a Sacramento, California based real estate and mortgage lending company. Delta Homes opened one office in 2003 and eventually had five offices in Sacramento and Woodland, California. As the president of Delta Homes, Tovar managed the day-to-day operations of the company and prepared and submitted residential home loan applications on behalf of Delta Homes’ clients. Hermosillo was a loan officer at the Woodland office and was also responsible for submitting residential home loan applications on clients’ behalf. Continue Reading…
Edward Dacy, 77, most recently of West Melbourne, Florida, was sentenced to six years in prison on charges stemming from a multi-million dollar mortgage fraud investment scheme involving 45 properties and $16 million in mortgage loans used for the purchase of residential real estate in the District of Columbia and Maryland.
Dacy was found guilty on March 25, 2015, following a trial in the U.S. District Court for the District of Columbia, of 10 counts of conspiracy, bank fraud, and mail fraud. His conviction completes a three-year investigation relating to this mortgage fraud scheme. A total of nine individuals have admitted their guilt through guilty pleas or were found guilty after trial. Upon completion of his prison term, Dacy will be placed on three years of supervised release. In addition, Judge Walton ordered that he pay $2,730,345 in restitution and an identical amount as a forfeiture money judgment. Continue Reading…