Loading
SARASOTA — Area real estate professional Freddy Orjuela, 49, of Sarasota, was sentenced to two years in federal prison for mortgage fraud.
U.S. District Judge James Whittemore also ordered Orjuela to pay $960,020 in restitution, according to a statement from the U.S. Attorney's office in Tampa. A jury found Orjuela guilty Dec. 14 of making false statements in a mortgage loan application to a federally insured financial institution after a three-day trial. As part of the sentence, the court also entered a money judgment in the amount of $1,475,950, the proceeds of the fraud, the statement adds.
According to court documents, Orjuela submitted a mortgage loan application to Century Bank on which he knowingly and willfully overstated his income, understated his liabilities, and falsely denied he had declared bankruptcy within the past seven years.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
