Press Release
REAL ESTATE APPRAISER PLEADS GUILTY IN MORTGAGE FRAUD SCHEME
March 11, 2008
FOR IMMEDIATE RELEASE
R. Alexander Acosta, United States Attorney for the Southern District of Florida, Michael E. Yasofsky, Special Agent in Charge, Internal Revenue Service, Criminal Investigation, and Broward County Sheriff Al Lamberti, announced the March 10, 2008 guilty plea of defendant Martine Yanisse Castrillon, 30 of Miami, Florida. Castrillon pled guilty to two (2) counts of wire fraud, in violation of Title 18, United States Code, Section 1343. Castrillon faces a statutory maximum sentence of twenty (20) years in prison on each of the wire fraud counts and a fine of up to $250,000 on each count. Sentencing is scheduled for May 22, 2008.
Castrillon is one of fifteen (15) defendants charged in a wide-ranging mortgage fraud scheme in United States v. Henry Quintero-Lopez et. al. Case No 07-60207-CR-ZLOCH, known as Operation Whose House. According to the Indictment in the case, the defendants and their co-conspirators orchestrated a scheme through which they located properties for sale in the Southwest Ranches area of Broward County, fraudulently purchased the properties using straw buyers, and received cash back at the closings. To date, nine (9) defendants have pled guilty to various federal charges in the Indictment.
According to the Indictment, co-defendants Quintero-Lopez and Villalba would offer the owner’s full asking price and then inflate the contract purchase price to allow their companies, New World International and D&H Investments of South Florida to receive a finder’s fee, assignment fee and/or additional funds to allegedly construct improvements to the properties, thus creating “instant equity.” Quintero-Lopez and Villalba would then recruit individuals, who for a fee would act as straw buyers of the properties. Quintero-Lopez and Villalba would obtain fraudulent pay stubs, IRS Form W-2s, verification of employment, and verification of deposit forms. These documents would be submitted to cooperating mortgage brokers.
Castrillon, an appraiser trainer, admitted that she did fraudulent appraisals for Quintero. During her plea, Castrillon admitted that she appraised the properties at the amount requested by Quintero, not the true market price, and forged the name of the certified appraiser who was to review her work.
Mr. Acosta commended the investigative efforts of the Internal Revenue Service, and Broward County Sheriff’’s Office. The case is being prosecuted by Assistant United States Attorney Thomas Lanigan.
A copy of this press release may be found on the website of the United States Attorney's Office for the Southern District of Florida at http://www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.
Technical comments about this website can be e-mailed to the Webmaster. PLEASE NOTE: The United States Attorney's Office does not respond to non-technical inquiries made to this website. If you wish to make a request for information, you may contact our office at 305-961-9001, or you may send a written inquiry to the United States Attorney's Office, Southern District of Florida, 99 NE 4th Street, Miami, Fl. 33132.