Ringleader of Florida Mortgage Fraud Group Guilty of Racketeering, Grand Theft
By newsdesk - Posted on October 16th, 2007
Hillsborough County man organized scam involving fraudulent mortgage loans and bad contractors
October 12, 2007 -- TALLAHASSEE, FL – Florida Attorney General Bill McCollum today announced that a Hillsborough County man pleaded guilty to multiple charges of racketeering, conspiracy to commit racketeering, mortgage fraud, and grand theft. Scott Anthony Almeida will be sentenced to 10 years prison at a later date for a mortgage fraud scam that victimized more than 100 individuals. As part of his plea agreement, Almeida will cooperate with authorities in both the cases pending against his co-defendants and in several active investigations. He is also prohibited from working in the mortgage or title industries.
The three-year investigation began when victims filed complaints about incomplete or substandard construction work being performed by construction companies affiliated with Almeida. Almeida and his associates secured mortgages for these homeowners to finance the home repair projects by submitting fraudulent documents to Argent Mortgage Company, one of the nation’s largest wholesale “sub-prime” mortgage companies. Investigators followed the trail of fraudulent applications back to the organized criminal operation which submitted nearly 130 loans to Argent which were funded for approximately $13 million.
Almeida is one of many targets within the mortgage industry and subprime marketplace in Florida investigated by law enforcement and the Office of Statewide Prosecution. His guilty plea was the result of a joint effort on the part of the Office of Statewide Prosecution, the Florida Department of Law Enforcement, Hillsborough County Consumer Protection Agency and the Tampa Police Department.
Almeida pled guilty today in Polk County in front of Circuit Court Judge Neil Roddenbery. The cases against co-defendants Orson Benn, Frank Giffone, Samuel Green, Adrienne White and Bradford Peck are still pending.
Source: Florida Attorney General
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