American Greed: Goodfella Gone Bad – Dom Rabuffo Enters Witness Protection Only to Start New Life of Crime in Mortgage Fraud

American Greed: Goodfella Gone Bad – Dom Rabuffo Enters Witness Protection Only to Start New Life of Crime in Mortgage Fraud

Seven Florida residents, including two Hillsborough County businessmen, were sentenced to federal prison after they were convicted by a Miami jury in 2014.

The scheme involved 85 “straw buyers,” mostly from Florida, who pretended to buy lots at exaggerated prices and obtained million-dollar construction loans from SunTrust, Bank of America, Wachovia and other banks. The straw buyers, identified by prosecutors as “unindicted co-conspirators”, were not charged. A number of them became witnesses against the developers.

Federal prosecutors said the group got approval for more than $72 million in loans, but the banks did not disburse the final $22 million because officials at SunTrust became suspicious of the number of loans approved for the area by the same loan officer.

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4closureFraud.org

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