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A Florida real estate developer has received a sentence of 20 months in federal prison for a mortgage fraud scheme involving a hotel that had been converted into condominiums. So reports the Florida Business Observer.
Marek Harrison, 56, of Plant City, Fla., also must pay more than $2.7 million in restitution after pleading guilty to bank fraud.
Court documents state that from 2007 to 2008, Harrison paid co-conspirators kickbacks using mortgage funds relating to the Saratoga Resort Villas in Kissimmee, Fla.
