FORT LAUDERDALE BANK INSIDER CHARGED WITH MAIL FRAUD IN CONNECTION WITH A MORTGAGE FRAUD SCHEME
Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, Henry Gutierrez, Postal Inspector in Charge, U.S. Postal Inspection Service, J. Thomas Cardwell, Commissioner, State of Florida Office of Financial Regulation, and Amos Rojas, Special Agent in Charge, Florida Department of Law Enforcement (FDLE), Miami Field Office, announced that on Monday, December 13, 2010, Jaime Vaca, 42, of Fort Lauderdale, was arrested on mail fraud charges, in violation of Title 18, United States Code, Section 1341. Vaca made his initial appearance in court before U.S. Magistrate Judge Linnea Johnson.
According to the indictment, Vaca was employed at Sun Trust Bank. In February 2005, Vaca allegedly provided false Verification of Deposit forms for borrowers submitting mortgage loan applications through The Lending House Inc., a mortgage brokerage firm located on North Federal Highway, Fort Lauderdale. The indictment alleges that The Lending House paid Vaca approximately $1500.00 for providing fraudulent Verification of Deposit forms for The Lending House borrowers, which were ultimately submitted to mortgage lending companies.
If convicted, Vaca faces a maximum statutory term of imprisonment of up to 30 years and up to 5 years of supervised release.
Mr. Ferrer commended the investigative efforts of the U.S. Postal Inspection Service, FDLE, and State of Florida Office of Financial Regulation. The case is being prosecuted by Assistant U.S. Attorney Laurie Rucoba.
A copy of this press release may be found on the website of the United States Attorney's Office for the Southern District of Florida at http://www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.