Mortgage Fraud Indictment Returned Regarding Perdido Key Condominiums
PENSACOLA, FLORIDA – Todd Britton-Harr, 34, of Perdido Key, Florida, and Karyn Britton, 44, of Bradenton, Florida, have been charged in a two-count federal indictment that was unsealed today, alleging mortgage fraud during their acquisition of multiple condominium units in Perdido Key.
The federal indictment, announced today by U.S. Attorney Pamela C. Marsh, charges that Britton-Harr and Britton executed a scheme to commit fraud and make false statements on loan applications regarding their purchase of multiple condominium units in the Purple Parrot Village of Perdido Key, Florida, including the failure to disclose known liabilities. Further, the indictment details how the scheme was used to funnel money back to Britton-Harr and Britton during the acquisition of the condos. The condominium units referenced in the indictment have all gone into foreclosure with outstanding balances in excess of $1,000,000.
Britton-Harr made his initial appearance in federal court today in Pensacola. Britton remains at large. A trial date has been set for December 5, 2011 in Pensacola before Senior United States District Judge Lacey A. Collier. The defendants both face up to 30 years in prison if convicted, as well as the forfeiture of their interest in any property derived from the alleged scheme.
An indictment is merely an allegation by a grand jury, and a defendant is presumed innocent until proven guilty beyond a reasonable doubt in a court of law. U.S. Attorney Marsh praised the investigative work of the Federal Bureau of Investigation and the Florida Office of Financial Regulation. The case is being prosecuted by Assistant United States Attorney David L. Goldberg.