South Florida

Miami Mayor’s Partner Guilty of Mortgage Fraud

MIAMI — The business partner of North Miami’s suspended mayor has pleaded guilty in an $11 million mortgage fraud case in which the mayor also has been charged.

Karl Oreste of Miramar pleaded guilty last week to a wire fraud conspiracy charge involving a financial institution. The charge carries a maximum 30-year prison sentence.

Suspended mayor Lucie Tondreau

Suspended mayor Lucie Tondreau

Court documents show that Oreste and the suspended North Miami mayor, Marie Lucie Tondreau, used a radio program catering to Haitian-Americans to recruit people to pose as borrowers for homes. The paperwork submitted to lenders allegedly contained false information and values of the properties were inflated, with Oreste, Tondreau and others sharing fraudulent proceeds.

Tondreau has pleaded not guilty and is awaiting trial. The alleged scheme involved about 20 properties that cost lenders $11 million in losses.

by The Associated Press


Haitian Times

Haitian Times

The Haitian Times was founded in 1999 as a weekly English language newspaper based in Brooklyn, NY.The newspaper is widely regarded as the most authoritative voice for Haitian Diaspora.
Haitian Times
Jul. 21, 2014

2 COMMENTS ON THIS POST To “Miami Mayor’s Partner Guilty of Mortgage Fraud”

  1. Rockafella319 says:

    I am not condoning fraud, but, what happened to the banksters of that bankrupted millions of Americans?

    Steve Isidor

  2. TheTruth says:

    Karl Oreste is a great guy, just got caught in a real bad situation. he has accepted responsibility for the wrongs that he has done. Mr Oreste did not defraud anyone in the Haitian Community, at the end of the day a wrong is a wrong. The banks have done worst, yet they get to act like they are some sort of victims. Now go get the real fraudsters on wall street.

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