Condo Scam Spells Prison Time for Ex-Mortgage Broker

A former Florida mortgage broker has received a 15-month prison sentence after pleading guilty in a mortgage fraud scheme that cost banks more than $5 million. So reports the Tampa Bay Times.

Jonathan Marmol and developer Mordechai Boaziz paid the down payments for people who bought condo units they were marketing, but told Wells Fargo, Wachovia Mortgage and other lenders the money came from the purchasers.

U.S. District Court Judge Virginia M. Hernandez Covington also sentenced Boaziz to 90 days in prison.

Read the full article from the Tampa Bay Times

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