Press Release
ANOTHER DEFENDANT PLEADS GUILTY AND TWO OTHERS SENTENCED IN “OPERATION FASTBUCK” MORTGAGE FRAUD SCHEME
May 20, 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 Division, and Al Lamberti, Broward County Sheriff, announce the May 20, 2008 guilty plea of Nidia Rodriguez-Rial, 40, of Miami, to money laundering charges. Sentencing for Rodriguez-Rial is set for July 18, 2008.
In addition, two other defendants were sentenced following guilty pleas resulting from Operation Fastbuck. Ira Ponte, 40, of Miami, who previously pled guilty to money laundering, was sentenced to 5 years’ probation. Joaquin M. Perea, 64, of Miami, who previously pled guilty to conspiracy to commit mail, wire and bank fraud, was sentenced to 3 months’ incarceration, followed by a five year period of supervised release and a $50,000 fine. Perea owned and operated Fly Away Travel Inc., and J. P. Accounting and Tax Services Inc., located at 9766 Coral Way , Miami, Florida.
To date, 14 defendants have pled guilty to various fraud and money laundering charges in connection with Operation Fast Buck. Defendant Henry Quintero-Lopez is the last remaining defendants and remains a fugitive.
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 eight properties using straw buyers, and then received cash back at the closings. To execute the scheme, the defendants and co-defendants would pay 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, creating “instant equity.” In addition, the defendants and co-defendants recruited individuals who were paid to act as straw buyers of the properties. Thereafter, Perea would create false documents, including pay stubs, IRS form W-2s, and verification of employment and deposit forms. These documents would be submitted to co-defendant mortgage brokers to support information contained in the mortgage applications.
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.
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