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Former regional mortgage broker charged with $ 1 million fraud | Business Observer

Fort Myers — Former Lee County Mortgage Broker Thomas Jericho has been charged with fraudulent charges against his role in mortgage loan changes and investment fraud, which authorities say have exceeded $ 1 million nationwide.

Jericho was arrested on June 10 on charges of communication fraud, according to a statement from the Florida Financial Regulatory Authority. The Lee County Sheriff’s Office has been released in support of OFR in an investigation, and Fort Myers police are allegedly involved in the arrest.

Authorities claim that Erico has told victims that it can “find fraud” in mortgage lending. This will allow Erico to request a change in loan or cancellation of a loan from a lender. He also promised the victim that he would refund the fee if the mortgage documents weren’t fraudulent, the release said.

However, according to an OFR investigation, Erico did not obtain a change in the mortgage loan and did not refund the victim, “the release said. “The investigation revealed that neither Jericho nor the company he allegedly ran had a license to negotiate the terms of the mortgage.”

The plan’s collusion, Carlo Hamrahi, also known as Roberto Colleoni, was arrested in California and handed over to Florida under a warrant issued by Lee County in 2020. Hamrahi was charged with being involved in an organized plan of fraud. In a statement announcing the arrest, officials said the investigation revealed “a large-scale mortgage scam targeting dozens of older people.”

For Errico, authorities doubled victims’ investment in six months by buying land and condos at prices below market prices and selling them quickly for profit, even in another fraudulent plan. Claims to have promised. He also allegedly sold a high-yielding promissory note to another victim, and officials claim that the proceeds will be paid within six months of the completion of the real estate transaction. None of these expressions were true, and it became clear that Jericho used the victim’s investment to pay for personal expenses, “said the release.

“I’m proud of my state prosecutor’s office and financial regulator who brought this criminal to justice,” Attorney General Ashley Moody said in a statement. “I continue to fight for Floridian and are available. We use all means to protect our citizens from fraudsters who try to manipulate and deceive others. “

Former regional mortgage broker charged with $ 1 million fraud | Business Observer

Source link Former regional mortgage broker charged with $ 1 million fraud | Business Observer

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