Several Plantation police officers and an FBI agent arrested in $16 million dollar mortgage fraud ring.

This is huge!  Several Plantation police officers an FBI agent as well as a couple attorneys and mortgage brokers arrested as part of a $16,000,000 mortgage fraud ring. From the NBC6 story...

An indictment has been brought against 13 South Florida individuals, including, according to sources, as many as six police officers -- three of which have been confirmed as Plantation officers Daryl Radziwon, Joseph DeRosa and Casey Mittaurer -- for their involvement in a $16,000,000 mortgage investment scheme in Broward. 

In a statement made by the Plantation Police Department, the three officers were placed on adiministrative leave with pay in January pending the investigation and, as of Thursday, have been placed on leave without pay. 

"Once again," said Florida Department of Law Enforcement Special Agent Amos Rojas, Jr., "a complex mortgage fraud scheme in South Florida has resulted in additional arrests on serious charges."

The indictment claims that the defendants "engaged in a scheme to enrich themselves by fraudulently causing real property in Broward and Palm Beach Counties to be bought and sold by submitting, and causing to be submitted, false and fraudulent documents to mortgage lenders in order to obtain the loans. The title attorneys falsely represented to the mortgage lenders the source of the deposits/down payments and/or the cash from borrowers needed to close the transactions. The total dollar amount of the loans secured under the scheme was in excess of $16,000,000."

WATCH

The indictment claims that Joseph Guaracino of Plantation, along with co-defendants, would locate properties to be purchased and negotiate sale contracts. In order to qualify for mortgage loans, Guaracino and others caused false information to be submitted to lenders, including forged lease agreements, false bank account balances, and inflated income or salary levels.

Those who invested in the scheme and purchased Guaracino-controlled properties include Dennis Guaracino, Jr., Robert DePriest, Plantation police officers Joseph DeRosa, Daryl Radziwon and Casey Mittaurer; John Velez of Plantation; Jacqueline Trumbore of Margate; and Joseph Lagrasta of Tamarac.

Attorneys Steven Stoll of Fort Lauderdale and Stephen Orchard of Boca Raton, along with mortgage brokers Matthew Gulla of Davie and Rene Rodriguez, Jr. of Plantation participated in the scheme by handling the closings of the bogus loans.

Charges include one count of conspiracy, 11 counts of mail fraud, 13 counts of wire fraud, and 8 counts of making a false statement to a government agency. 

Conspiracy, mail fraud, wire fraud and obstruction of justice counts each carry a  maximum penalty of up to 20 years imprisonment. The false statement counts each carry a maximum penalty of five years imprisonment.        

"This indictment charges a group of individuals who conspired to enrich themselves by committing mortgage fraud," U. S. Attorney Wifredo Ferrer said in a statement. "It includes a number of professionals who betrayed their profession for greed, and in the process, undermined the integrity of the mortgage marketplace on which we all rely."

Nice! FBI agent Robert Depriest was arrested as part of the ring as well.  There's a great quote that should get certain readers of our blog a little worried, from the Sun Sentinel article regarding this same story...

Of the former Plantation officers, Joseph Guaracino was fired for lying in the course of an investigation of using his police badge to gain entry into a gated community when he was off duty, said Massey, who was chief when the real estate tip arrived in 2007.

Lying in the course of an investigation!  That ain't no good now is it Detective Baluja?!

"If you lie, you die," Massey said. "If you are willing to lie to me over this, what else are you willing to lie about? His integrity was shot.

Uh oh!  Worried yet Jorge?

He said Dennis Guaracino was fired next for "being untruthful. In the interest of the community I separated him from service."

That sound about right now doesn't it?  Once a cop's credibility is shot, what's he good for?  Surely you all remember that term "brady cops" don't you?  What's that saying that you and your buddy Kostrzewski are so fond of Jorge?  

"The train has left the station"

Clickity clack!!