The defendants, aiding and abetting each other, knowingly made or caused to be made, material false statements to Doral Bank for the purposes of obtaining mortgage loan numbers 3006810889 & 3006804465 for a total amount of $560,000.00 for the purchase of property located at 131 Fairway Street, Palmas Plantation Development, Humacao, P.R.
#FAKE BANK STATEMENT FOR MORTGAGE VERIFICATION#
In order to ensure the approval of the loan, the participants created and submitted false supporting documentation along with the loan application, i.e.: financial statements, bank statements, employment verification letters, tax returns, among others. The excess amount of the loan was “kickbacked” to the defendants, and then they would default on payment of the monthly mortgage premiums. The investigation revealed that as part of the scheme and artifice to defraud, the defendants, through straw buyers, purchased a property by obtaining mortgage loans from a federally insured financial institution in amounts substantially exceeding the selling price of the property. Reyes-Colón and Francisco Quintero-Peña are charged with making false statements in loan applications. The investigation was conducted by the Department of Homeland Security (HSI), with the collaboration of the Federal Bureau of Investigation (FBI), Internal Revenue Service (IRS) and the Housing and Urban Development-Office of Inspector General (HUD-OIG).ĭefendants Edgar A.
These charges stem from a scheme used by the defendants to obtain money from mortgage lending institutions. Attorney Rosa Emilia Rodríguez-Vélez of the District of Puerto Rico announced today. San Juan, Puerto Rico – Two individuals have been charged in a one-count indictment unsealed today and returned by a grand jury in San Juan, Puerto Rico on December 22, 2015, said U.S.
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