John Fisher, 35, of Jupiter, Fla., pleaded guilty in federal court to one count of conspiracy to commit mail and wire fraud and to one count of substantive mail fraud.
Also pleading guilty were defendants Tracey Balli, 35, of Pembroke Pines, Fla., Justina Bryan, 35, of Hollywood, Fla., and Delano McLennon, 33, of North Lauderdale, Fla. These defendants pleaded guilty to one count of making false statements on a HUD-1 Real Estate Settlement Form in connection with a mortgage fraud scheme.
Sentencing has been scheduled for Nov. 19 before U.S. District Judge Ursula Ungaro.
According to records filed with the court and statements made during the plea hearing, the defendants and other conspirators allegedly engaged in a scheme “to enrich themselves” by fraudulently causing real property in Fort Lauderdale, Jupiter, Cape Coral, and Royal Palm Beach to be bought and sold through straw buyers who obtained high value mortgages based upon fraudulent mortgage loan applications.
A co-conspirator allegedly orchestrated the scheme, in which Fisher, a licensed mortgage broker, Balli and Bryan, both loan processors, are said to have joined.
Balli and Bryan, along with other conspirators, recruited straw buyers, including McLennon, to join the scheme.
In order to obtain mortgages on these properties, the defendants and other co-conspirators submitted and caused to be submitted fraudulent documents to various mortgage lenders across the country, said Wifredo Ferrer, U.S. attorney for the Southern District of Florida.
Based on these false documents, the mortgage lenders issued approximately $2.5 million in loans to the defendants and their co-conspirators.
