Sunday, February 26, 2012

Phony deeds, many mortgages key to massive mortgage fraud

For fugitives Victor and Natalia Wolf, the police poster tells the story: hundreds of victims from land fraud swindles across Florida totaling millions in losses.

But the couple's lasting legacy may be found in their most prized possession: their home.

In their final desperate days, the Wolfs managed to get a spate of sham mortgages slapped on their North Miami Beach house — creating 21 fake transactions — to squeeze millions from lenders before vanishing.

The wheeling and dealing — phony deeds, forged signatures and a straw buyer — has left investors fighting over who owns the stately waterfront house at the center of the couple's real-estate empire.

"It is mind boggling," said Fort Lauderdale attorney Roman Groysman, representing a burned lender in a battle over the home. "They did everything imaginable in the realm of fraud."

Read the rest of the article at The Orlando Sentinel

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