Tuesday, February 10, 2009

Florida Title Company Owner Sentenced To 5 Years For $18.5 Million Mortgage Fraud

Evelyn Rivera, of Wellington, Florida and the owner of Asset Title LLC of West Palm Beach, Florida, was sentenced Friday to 5 years in prison for her role in a mortgage fraud scheme that netted $18.5 million. Rivera had plead guilty to the fraud, which involved fraudulent mortgages on 55 condominiums in Fort Lauderdale. Two other conspirators in the scheme, Mike Acosta, a licensed property appraiser, and William Louisma, a recruiter of straw buyers, were also convicted for their roles in the scheme. Acosta was sentenced to 41 months in prison, and Louisma was sentenced to 46 months.

Read the story here and here.

Read the criminal information here.

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