{"id":3458,"date":"2023-12-04T07:23:08","date_gmt":"2023-12-04T12:23:08","guid":{"rendered":"https:\/\/www.deeds.com\/articles\/?p=3458"},"modified":"2024-04-25T23:17:03","modified_gmt":"2024-04-26T03:17:03","slug":"deed-stealing-florida-broker-pleads-guilty","status":"publish","type":"post","link":"https:\/\/www.deeds.com\/articles\/deed-stealing-florida-broker-pleads-guilty\/","title":{"rendered":"Deed-Stealing Florida Broker Pleads GUILTY"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Michael B., a real estate broker, has changed his mind. He\u2019s now pleading guilty in a felony fraud case involving deed theft. In Florida, fraudulent real estate schemes<\/a> are not unusual. But when a real estate broker in active status is pursued for deed fraud, that\u2019s the kind of case that stands out. <\/p>\n\n\n\n

Yes, you read that right. This is a case of house stealing by a real estate broker. Licensed by the state of Florida, this person could and did list homes on the MLS. Not only is this person alleged to have stolen and sold other people\u2019s homes; now, he has actually admitted to the scheme. The broker might manage to avoid any jail time.<\/p>\n\n\n\n

According to Florida\u2019s state prosecutor, the Tampa-area broker faked deeds and mortgage documents in order to sell ill-gotten titles to innocent people. He also used his stolen real estate to secure loans.<\/p>\n\n\n\n\n\n\n\n

Six Homes Stolen; Sentencing This Wednesday<\/h2>\n\n\n\n

Investigators charged the broker in connection with six properties. The alleged scheme includes people pretending to be witnesses; fake signatures on fake deeds and, a bogus notary stamp \u2014 and even bogus mortgage payoff letters. All so deeds would make their way into names that the broker could use to get secured financing or sell the homes.<\/p>\n\n\n\n

Quitclaims frequently turn up when detectives investigate\u00a0<\/strong><\/em>fraudulent real estate transactions<\/em><\/strong><\/a>. If you are a senior homeowner, or your title is free and clear of mortgages, you could be at heightened risk.<\/strong><\/em><\/pre>\n\n\n\n
Michael B. will be sentenced this Wednesday, December 6. He must pay a total of $177,000 back to the one victim he harmed financially. Failure to adhere to the terms of the plea deal will result in something between two and 30 years in prison.<\/p>\n\n\n\n
He\u2019ll get supervised probation if he pays the restitution and meets the terms of the plea deal. But is this enough of a deterrent for such noxious fraud?  <\/p>\n\n\n\n
An Online Search for a Home Becomes a Tip-Off<\/h2>\n\n\n\n
The confessed fraudster had pleaded not guilty<\/em> earlier this year. Why the change of plea? The prosecutor \u2014 who\u2019d been pursuing the case for four years \u2014 was willing to offer five years of supervision instead of prison.<\/p>\n\n\n\n
Other than the person who\u2019s unfairly named as the debtor on a $177K mortgage, no one got hurt. At least that\u2019s the rationale for what looks like it\u2019s going to be a light sentence.   <\/p>\n\n\n\n
John Whitt Jenkins was one of those who ultimately weren\u2019t financially harmed. But Jenkins went through weeks of uncertainty, not knowing if he could get his beloved home back. His signature had been faked on a deed. In one day, he lost the deed to a home that he personally built, now worth around $350K.<\/p>\n\n\n\n
This \u201clucky\u201d forgery victim just happened to be looking up his house on Zillow.com<\/em>, where it showed a very recent sale. The victim reported the problem and detectives jumped in. Quick action by all involved managed to repair the harm.<\/p>\n\n\n\n
Will the Real Estate Broker Keep His License?<\/h2>\n\n\n\n
Real estate brokers in Florida can be convicted of a misdemeanor or felony in the state and continue working in the profession.<\/p>\n\n\n\n
According to Goldman Wetzel, a criminal defense law firm in the Tampa Bay area, brokers have an obligation to report their criminal charges to the Florida Real Estate Commission. The Commission can permit Florida brokers to work as licensed professionals if they have criminal records.<\/p>\n\n\n\n
According to the current Florida Statutes<\/a>, the Florida Real Estate Commission regulates brokers, real estate schools, and appraisers. For professionals who are convicted of a crime, whether inside or outside of Florida, several things could happen:<\/p>\n\n\n\n