A real estate attorney, a real estate agent, a licensed loan originator, a former loan officer, a loan processor and a real estate investor were all indicted Friday on charges of participating in a wide-ranging real estate fraud conspiracy that reportedly involved mortgage fraud, bank fraud and identity theft.
According to the United States Attorney’s Office for the District of Rhode Island, a 22-count indictment was handed down by a federal grand jury, charging the six-person conspiracy with allegedly defrauding financial institutions and individuals through mortgage loans, residential property sales and fees.
Attorney Louis Marandola, 41, of Providence, R.I., was charged with one count of conspiracy, five counts of bank fraud, three counts of wire fraud and six counts of aggravated identity theft.
Brian McCaffrey, 38, of East Greenwich, R.I., a licensed loan originator, was charged with with one count of conspiracy, two counts of bank fraud and two counts of aggravated identity theft.
Raffaele Marziale, 41, of Bristol, R.I., a former loan officer, was charged with one count of conspiracy, two counts of bank fraud and two counts of aggravated identity theft.
Lauren Sienko, 33, of Rehoboth, Mass., a loan processor, was charged with one count of conspiracy, two counts of bank fraud and one count of aggravated identity theft.
Gina Ronci Mohamed, 45, of Lincoln, R.I., a licensed real estate agent, was charged with one count of conspiracy, two counts of bank fraud, two counts of aggravated identity theft, and one count of false statement.
Edwin Rodriguez, 35, of Pawtucket, R.I., a real estate investor, was charged with one count of conspiracy, once count of bank fraud, two counts of aggravated identity theft and two counts of witness tampering.
According to the U.S. Attorney’s Office, between 2007 and 2014, the group allegedly conspired to perpetrate a scheme that caused prospective homebuyers to obtain mortgages from financial institutions based upon materially false loan applications and fraudulent supporting documentation.
The indictments also allege that as part of the conspiracy, false representations were made in order to obtain fees to which the group was not entitled to or to make a profit selling property in which they had an ownership interest.
The indictment alleges that group concealed their involvement in the scheme by conducting business under the names of several different entities and individuals.
According to the indictment, the defendants allegedly used stolen identities to further the fraud and to conceal their connection to the real estate transactions.
The group also stands accused of fraudulently obtaining thousands of dollars by misrepresenting on a Housing and Urban Development form the amount of funds due or to be paid to one of the parties involved in a transaction.