Fla. Mortgage Executive Gets 3 Years In Prison

ORLANDO (AP) — A central Florida mortgage executive has been sentenced to three and a half years in prison for fraudulently obtaining $2 million in home mortgages.

Federal authorities said last week that 35-year-old Braden Koegel obtained the loans on two properties in North Carolina by using straw purchasers.

Federal authorities say the straw purchasers would lie about their income and assets on loan applications. Both of the properties went into foreclosure, resulting in more than a $1 million loss to the lender.

© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.

Comments

One Comment

Leave a Reply

Please log in using one of these methods to post your comment:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Miami

Adopt-A-Family For The Holidays
South Florida Holiday Homes

Listen Live