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Title company owner sentenced for mortgage fraud

By: Associated Press
By: Associated Press

MIAMI (AP) - Authorities say the owner of a West Palm Beach real
estate title company has been sentenced to five years in prison for
her part in a a mortgage fraud scheme.

Federal prosecutors say Evelyn Rivera, a licensed title agent
and owner of Asset Title LLC, received her sentence on Friday.

Rivera had previously pleaded guilty to participating in a scheme
to net $18.5 million from fraudulent mortgages on 55 Fort
Lauderdale condominium units.

Authorities discovered the fraud after about $690,000 in fraudulent mortgage loans had been issued on two units.

Mike Acosta, a licensed property appraiser, and William Louisma, a recruiter of straw buyers, were also convicted for their roles in the scheme.

Acosta was sentenced to 41 months in prison, and Louisma was sentenced to 46 months.


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