MIAMI (CBS4) – A mortgage scam in Miami has landed four people behind bars, accused of bilking $2.4 million out of hopeful investors.

According to the Miami-Dade State Attorney’s Office, for the past two years those involved in scam sold what they billed as foreclosed properties and tax deeds to investors who thought there were getting a great property at a bargain basement price.

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“It was a crime of absolute squandered trust,” said Miami-Dade State Attorney Katherine Fernandez Rundle.

According to investigators Ayda Young, Yohany Garcia, Zoraida Abreau and Johnny Bou Nassar convinced potential buyers that they had the inside knowledge of properties that were about to be foreclosed on or where taxes were still owed and they could get it at a steal of a price before it was made public.

The four ran a company called Miami-Dade County Short Sale Inc., the names sounded as legitimate as the forged documents they used looked, according to Fernandez Rundle.

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The county’s Inspector General said so far they’ve identified 15 victims of the company and they expected more to come forward.

As for the money, those who were conned won’t see their money again.

Fernandez Rundle said most of the money was lost gambling or squandered away, there’s nothing left to return to investors.

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All four have been charged with racketeering and grand theft. Their bonds range from $150,000-$500,000 and they’re facing up to 21 years in prison if convicted.