5 Arrested In Mortgage Loan Scam

Five people were arrested last week for their role in fleecing homeowners out of millions of dollars in bogus mortgages. So far it seems this group of low-lives preyed upon minorities, the elderly and the poor. Scott Almeida, Orson Benn, Adrienne White, Frank Giffone and Samuel Green were all picked up on numerous charges. Two of the five (Almeida and Giffone) were from the Tampa area.

Scott A. Almeida was arrested on 7/18/07 and so far faces 15 charges including 1 count of "RICO VIOLATION", 1 count of "RICO CONSPIRACY OR ENDEAVOR", 6 counts of "OBTAINING A MORTGAGE NOTE BY FALSE REPRESENTATION", and 7 counts of "GRAND THEFT SECOND DEGREE".

Frank S. Giffone, also arrested on 7/18/07, faces 18 charges including 2 counts of "RICO VIOLATION", 4 counts of "GRAND THEFT THIRD DEGREE", and 12 counts of "ACTING IN THE CAPACITY OF CONTRACTOR WITHOUT A LICENSE".

RICO stands for "Racketeer Influenced and Corrupt Organizations", which is a U.S. federal law enacted in 1970 that compounds the penalties of criminal acts performed as part of an ongoing criminal organization.

Almeida, Giffone and White, are all former owners, principals or employees of the Hillsborough County mortgage broker companies Advanced Mortgage Solutions and Consumer Lending Resources. In addition to the mortgage brokerage businesses, the defendants operated two home improvement companies: Premier Quality Renovations and Florida Beautiful Construction. Almeida and Giffone convinced mostly minority homeowners in poor areas of Florida to take out home loans to finance significant home improvements. The pair then submitted loan applications that included false, forged or counterfeit documents. The scam continued with Benn and Green abusing their positions at Argent Mortgage (White Plains, N.Y.) by approving the fraudulent documents and loan packages, then distributing the funds amongst the group. The victims in these situations were now on the hook for these loans and of course, little or no improvements were actually made by the group.

According to the Florida Department of Law Enforcement, in total, Almeida and his associates, through various mortgage broker businesses, have submitted approximately 180 loans through Argent Mortgage Company totaling nearly $18 million. At least 129 of these loans were funded in the amount of approximately $13 million.

State Attorney General Bill McCollum said, "The allegations brought against these individuals are unspeakable. To prey on the hopes and dreams of these people who were simply trying to improve their homes is a terrible scheme and my office is committed to prosecuting those involved to the fullest extent of the law. I commend the cooperation exhibited by this investigation and look forward to a positive resolution for the citizens who were victimized."

The investigation began 3 years ago and the results are a compliment to the multi-agency cooperation between the Tampa Police Department (TPD), Hillsborough County Consumer Protection Agency (HCCPA), Pinellas County Department of Justice and Consumer Services (PCDJCS), Florida Attorney General's Office of Statewide Prosecution (OSWP), and the Florida Department of Law Enforcement (FDLE).

This is just one example of the numerous scams that are out there. If you feel you have been the victim of a scam, contact your local police department, or in Hillsborough County Florida, call Kevin Jackson, Chief Investigator at the Hillsborough Consumer Protection Agency 813-903-3425. Brush up your awareness on some other scams by reading other articles I have posted:


Property Deed Scam
Cash Back At Closing Scams
Urgent Message