Thursday, January 6, 2011

The Plantation cops mortgage fraud case, read the blog comments damn it!

Some of you may remember the $16mm federal mortgage fraud indictment from last July that we discussed at length on our blog which involved several Plantation police officers and an FBI agent getting charged.  I was curious about what was going on with case so I went back to our blog posts regarding the case and started to read some of the comments that our readers had left.  I found this one especially interesting:
Anonymous said...

Very simple case. The cops and others bought homes fixed them up and sold them. The cops submitted real info, the brokers forged documents on these loans and hundreds of others. The Governent was made aware of the fraud commited against the cops and many others they ignored the eviedence and targeted the cops. End of story, look at the other loans you will find the same thing. People who commit mortgage fraud don't fix up the homes and make mortgage payments for several years, and then sell the homes at losses. They run away with money! Someone please do a real investigation, maybe a reporter, as the FDLE has clearly not.

July 19, 2010 11:08 PM
Now that's interesting allegation.  The cops submitted real information for the loans and the brokers were the ones that falsified all the information on the applications?  Some how I didn't pick up on that till this morning, what if that really was the case?  What if the cops were actually submitting accurate information to the mortgage brokers who then turned around and adulterated the applications without the applicants knowledge?  What I still can't comprehend is that according to this comment, the loans were paid for several years then the properties were sold, if that's true then there wasn't a default either, so where's the crime?  Considering how rampant mortgage fraud was during the real estate boom, aren't there better cases to prosecute than this one?  If the cops that were charged never submitted false information to the banks and it was the mortgage brokers who did, what exactly were the cops guilty of then?  

This comment and this case warrants a closer look, I'll see if I can find some more information on the case and post tomorrow.

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