Former regional mortgage broker accused of $ 1 million fraud | Business Observer

Fort Myers – Former Lee County mortgage broker Thomas Jericho has been charged with fraudulent charges against his role in mortgage loan modifications and investment fraud, which authorities say topped $ 1 million. dollars nationwide.

Jericho was arrested on June 10 for communications fraud, according to a statement from the Florida Financial Regulatory Authority. The Lee County Sheriff’s Office has been released to support the OFR in an investigation, and Fort Myers Police are believed to be involved in the arrest.

Authorities say Erico told victims he could “find a fraud” in the mortgages. This will allow Erico to request a loan change or loan cancellation from a lender. He also promised the victim that he would reimburse the costs if the mortgage documents were not fraudulent, the statement said.

However, according to an investigation by the OFR, Erico did not obtain a modification of the mortgage loan and did not reimburse the victim, ”the statement read. “The investigation revealed that neither Jericho nor the company he allegedly ran had a license to negotiate the terms of the mortgage.”

The colluding plan, Carlo Hamrahi, also known as Roberto Colleoni, was arrested in California and turned over to Florida under a warrant issued by Lee County in 2020. Hamrahi has been charged with being involved in an organized scheme of fraud. In a statement announcing the arrest, officials said the investigation revealed “a large-scale mortgage scam targeting dozens of seniors.”

For Errico, authorities doubled the victims’ investment in six months by buying land and condos below market prices and quickly reselling them at a profit, even as part of another fraudulent plan. Claims to have promised. He also reportedly sold a high-yielding promissory note to another victim, and officials say the proceeds will be paid off within six months of the real estate transaction closing. Neither phrase was true, and it became clear that Jericho used the victim’s investment to pay for personal expenses, ”the statement said.

“I am proud of my state attorney’s office and financial regulator who brought this criminal to justice,” Attorney General Ashley Moody said in a statement. “I continue to fight for Floridian and I am available. We use all means to protect our citizens against fraudsters who try to manipulate and deceive others. “

Former regional mortgage broker accused of $ 1 million fraud | Business Observer

Source Link Former Regional Mortgage Broker Charged With $ 1 Million Fraud | Business Observer


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