Individual Sentenced To 21 Months In Prison For Mortgage Fraud

SAN JUAN, P.R. – Alejandro E. Mayendía-Blanco was sentenced by United States District Court Judge Francisco A. Besosa to serve 21 months of imprisonment for mortgage fraud, five years of supervised release, a fine of $50,000, and an order for restitution of $98,666, announced United States Attorney for the District of Puerto Rico, Rosa Emilia Rodríguez-Vélez. Mayendía-Blanco had plead guilty on August 12, 2016.

Alejandro E. Mayendía-Blanco was arrested on May 29, 2015, on charges of defrauding First Equity Mortgage Bankers, Inc. (FEBMI) in connection with a loan application. On October 3, 2008, the defendant participated in a real estate transaction as the seller of real property located in San Juan, PR. As part of the transaction, the defendant, along with co-defendant Orlando Mayendía represented that Orlando Mayendía was going to contribute $48,381.10 towards the purchase of the property. At the time that the defendant and Orlando Mayendía made this representation to FEBMI they knew it to be false, since the defendant had agreed to contribute the $48,381.10 to the purchaser, Orlando Mayendía, after the sale. Thus, the proceeds of the contribution from the borrower, Orlando Mayendía were the sales proceeds provided to Alejandro Mayendía.

“We are committed to bringing to justice those involved in federal financial crimes in Puerto Rico,” said United States Attorney, Rosa Emilia Rodríguez-Vélez. “The US Attorney’s Office will continue to investigate and prosecute financial crimes and ensure just and effective punishment for those who perpetrate them, and recover proceeds for victims of financial crimes.”

Assistant U.S. Attorneys Nicholas Cannon and Mariana E. Bauzá prosecuted the case.