Sarasota Real Estate Professional Sentenced To Prison For Mortgage Fraud
Tampa, Florida – U.S. District Judge James D. Whittemore yesterday sentenced Freddy Orjuela, Sr. (49, Sarasota) to two years in federal prison and to pay $960,020 in restitution for making false statements in a mortgage loan application to a federally insured financial institution. As part of the sentence, the Court also entered a money judgment in the amount of $1,475,950, the proceeds of the fraud.
A jury found Orjuela guilty on December 14, 2016, following a three- day trial.
According to court documents, Orjuela submitted a mortgage loan application to Century Bank on which he knowingly and willfully overstated his income, understated his liabilities, and falsely denied he had declared bankruptcy within the past seven years.
This case was investigated by the Federal Bureau of Investigation. It was prosecuted by Assistant United States Attorneys Callan Albritton and Bob Mosakowski.