More mortgage fraud arrests, big fcuking deal...

From the Miami Herald today...

4 South Floridians face mortgage fraud charges

Four South Florida residents have been charged in a $6 million mortgage fraud scheme.

Arrested were Carlos Cano, 53, of Delray Beach; Robyn Colon, 34, of Boynton Beach; Jose L. Colon, 52, of Boynton Beach, and Maria L. Lozada, 40, of Miami.

They were charged with one count of conspiracy to commit bank fraud and eight counts of substantive bank fraud, the U.S. Attorney's Office said.

The indictment says Lozada would identify Miami-Dade County properties that could be used to defraud the lenders and then recruited the others to pose as purchasers of the properties. The buyers would prepare fraudulent loan applications and Lozada would use her company, Southeast Florida Marketing, to receive mortgage proceeds and cash rent payments.

That's it huh?  Four people arrested in $6 million dollars worth of fraud?  Once again, they miss the mark and a bus load of people got away.  For those with any knowledge of real estate transactions, you know that there were several more people involved in dirty transactions like the ones that these people were involved in, real estate agents, mortgage brokers, appraisers, title agents, attorneys, etc.  Unless the four people arrested fulfilled all those roles, then where the hell is everyone else?  Why haven't any of the other players been arrested?  What a crock of $hit.  What's worse, the unproportionate amount fraud that goes on in Florida or the horrific way law enforcement handles these cases?  No wonder Florida is fertile breeding ground for fraudsters!  

Big day in court tomorrow folks, the man at the center of the Bernardo Barrera mortgage fraud case, John Arthur Romney, changes his plea tomorrow.  We'll see how the man who made off with several hundred thousand dollars as a result of this fraud, get's slapped on the wrist and sent on his way...