Press Release
TWO DEFENDANTS PLEAD GUILTY IN BROWARD COUNTY MORTGAGE FRAUD SCHEME
September 4, 2008
FOR IMMEDIATE RELEASE
R. Alexander Acosta, United States Attorney for the Southern District of Florida, Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation, Miami Field Office, Donald B. Saxon, Commissioner, Florida Department of Financial Regulation, and Henry Gutierrez, Postal Inspector in Charge, United States Postal Inspection Service, announce today that Marcia Mestre, age 51, of Wilton Manors, Florida, and Angela Manalaysay, age 35 of Plantation, Florida plead guilty on September 3, 2008 before United States District Court Judge William P. Dimitrouleas to charges related to a mortgage fraud scheme.
Mestre, pled guilty to one Count of Conspiracy to commit mail and wire fraud in violation of Title 18 United States Code, Section 371 and faces up to 5 years in prison and up to a $250,000 fine.
Manalaysay, pled guilty to one Count of Mail Fraud in violation of Title 18, United States Code, Section 1341 and faces up to 20 years in prison and up to a $250,000 fine.
Both are to be sentenced on November 12, 2008. The remaining four defendants are scheduled to begin trial on November 17, 2008.
The Indictment charges conspiracy to commit mail and wire fraud, mail fraud, wire fraud, money laundering and filing false Chapter 13 petitions in the Bankruptcy Court, involved over 25 properties and $10,000,000 in fraudulent mortgages in Broward County.
According to the Indictment, the defendants engaged in a scheme to obtain mortgages from lenders using straw purchasers and through the submission of false documentation, including false loan applications, false employment verification forms, false salary statements, and false bank account statements reflecting high account balances.
Mr. Acosta commended the investigative efforts of the FBI, the Florida Department of Financial Regulation, and the United States Postal Inspection Service. This case is being prosecuted by Assistant United States Attorney Jeffrey H. Kay and Jennifer Keene of the Fort Lauderdale Office.
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.
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