Former Area Mortgage Broker Charged With $ 1 Million Scam | Business observer

0
19

“However, based on the OFR’s investigation, it is alleged Errico did not obtain any mortgage loan modifications nor did he issue any refunds to his victims,” the release states. “The investigation also revealed that neither Errico, nor the companies he allegedly operated through, were licensed to negotiate the terms of mortgage loans.” Authorities allege Errico told his victims he could “find fraud” in their mortgage loans, which would enable him to demand loan modifications or cancellation of the loans from the lending institutions. He also allegedly promised his victims that if he couldn’t uncover fraud in the mortgage loan documents, he would refund any fees, the release states.

An alleged co-conspirator in the scheme, Carlo Hamrahi, aka Roberto Colleoni, was arrested in California and extradited to Florida in 2020 on a warrant issued out of Lee County. Hamrahi was charged with one count of being involved in an…

Read full article at www.bollyinside.com