Seven people in Tallahassee, Fla., are being charged for their involvement in a mortgage fraud scheme totaling about $5 million.
Those charged, defrauded lenders by filing false liens with county officials, inflating price quotes to lenders, laundering money and using straw buyers.
Attorney General Pam Bondi said in a statement that with the help of the Miami-Dade police Department, they were able to stop the mortgage fraud.
"The Miami-Dade Police Department's Real Estate Fraud Section continues its vigilance and long-term commitment against those individuals who sought to compromise the integrity of the banking and mortgage industry," Chief Juan Santana of the Miami-Dade Police Department said.
Each of the defendant’s charge is a first-degree felony, punishable by up to 30 years in prison and up to a $10,000 fine.