Former space mortgage dealer charged in $1 million rip-off | Enterprise Observer

3 mins read

FORT MYERS — Former Lee County mortgage dealer Thomas Errico has been charged with fraud for his function in a mortgage mortgage modification and funding rip-off that authorities say exceeded $1 million nationwide.

Errico was arrested June 10 on a cost of communications fraud, in line with a press release from the Florida Workplace of Monetary Regulation. The Lee County Sheriff’s Workplace assisted the OFR with the investigation, the discharge states, and the Fort Myers Police Division is credited with the arrest.

Authorities allege Errico instructed his victims he might “discover fraud” of their mortgage loans, which might allow him to demand mortgage modifications or cancellation of the loans from the lending establishments. He additionally allegedly promised his victims that if he couldn’t uncover fraud within the mortgage mortgage paperwork, he would refund any charges, the discharge states.

“Nonetheless, primarily based on the OFR’s investigation, it’s alleged Errico didn’t receive any mortgage mortgage modifications nor did he concern any refunds to his victims,” the discharge states. “The investigation additionally revealed that neither Errico, nor the businesses he allegedly operated via, had been licensed to barter the phrases of mortgage loans.”

An alleged co-conspirator within 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 depend of being concerned in an organized scheme to defraud. In a press release asserting that arrest, officers stated the investigation uncovered “huge mortgage fraud concentrating on dozens of seniors.”

With regard to Errico, authorities additionally allege in one other fraudulent scheme he promised he would double the sufferer’s funding in six months by buying land or condominiums at below-market costs and promoting them shortly for a revenue. He additionally purportedly offered one other sufferer a high-yield promissory word, officers contend, claiming the returns could be paid from the closing of an actual property deal inside six months. “The investigation revealed that none of those representations had been true, and that Errico allegedly used the victims’ investments to pay private bills,” the discharge states.

“Happy with my Workplace of Statewide Prosecution and the Workplace of Monetary Regulation for his or her work in bringing this prison to justice,” Legal professional Normal Ashley Moody says within the assertion. “I’ll proceed to struggle for Floridians and use each useful resource obtainable to guard our residents from fraudsters searching for to control and deceive others.”



Leave a Reply

Previous Story

5 Cash-Saving Ideas for 2021

Next Story

NRI investments: 5 suggestions to assist NRIs optimise tax financial savings whereas residing and incomes overseas