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August 15, 2014

Posted  January 22, 2016

Luis Michael Mendez, owner of Kinetic Mortgage Group, Inc., a mortgage brokerage company in Miami, and Wilkie Perez, pleaded guilty to participating in a mortgage fraud scheme involving the sale of condominium units in the Miami area. In their pleas, both defendants admitted they participated in a scheme to place straw buyers in condominium units owned by real estate developers who are members of Mendez’s immediate family in return for a share of the profits. In total, Perez admitted to obtaining more than $2.5 million in fraudulent loans. DOJ