A Kissimmee realtor and her husband are facing multiple felony charges after they were indicted for bank fraud and identity theft in an alleged mortgage scheme that defrauded financial institutions.
Maria Del Carmen Montes, 46, and her husband, 45-year-old Carlos Ferrer, were indicted by a grand jury on multiple counts of conspiracy, bank fraud, and identity theft, according to a press release issued by the United States Attorney’s Office in the Middle District of Florida.
If convicted, Montes and Ferrer each face a maximum penalty of 30 years in federal prison on the conspiracy count and up to 30 years for each fraud count. Additionally, Montes would face a mandatory penalty of two years in prison for the aggravated identity theft count.
The indictment alleges that Montes and Ferrer conspired and executed a mortgage fraud scheme that targeted financial institutions. To ensure that otherwise unqualified borrowers she was representing as a licensed realtor were approved for mortgage loans, Montes created fictitious and fraudulent paystubs and IRS Form W-2s in the names of companies for whom her clients had never worked.
The fake income documents falsely indicated that her clients had worked at these companies, including companies formed and controlled by Ferrer, for a certain period of time and earned income that they did not. Montes submitted the fictitious paystubs and W-2s she created to the financial institutions who relied on them when making underwriting decisions. Montes used her clients’ personally identifying information on these documents without their knowledge or authorization.
Additionally, Montes and Ferrer recruited a co-conspirator working at a company to certify Verifications of Employment sent by the financial institutions and instructed the co-conspirator to lie to the institutions when they called to verify employment. Based on Montes’ and Ferrer’s misrepresentations, the financial institutions approved and funded the mortgage loans.
This case is being investigated by the Federal Housing Finance Agency – Office of Inspector General, the U.S. Department of Housing and Urban Development – Office of Inspector General, and the Federal Bureau of Investigation. It will be prosecuted by Special Assistant United States Attorney Chris Poor.