The federal government has teamed up with state governments to do more to prevent mortgage fraud, among other scams, targeted at Hispanics.
During a Hispanic Law Enforcement and Outreach Forum in Miami, Fla., Wednesday, the Federal Trade Commission and state and local law enforcement officials announced 55 law enforcement actions as part of their ongoing collaborative campaign to stop perpetrators of fraud, including mortgage and credit repair scams, from exploiting the Hispanic community.
The forum marked the one-year anniversary of the FTCs Hispanic Law Enforcement and Outreach Initiative campaign, which aims to inform Spanish speakers how they can identify and avoid fraudulent and deceptive practices and where they can report them. The FTC and its partners, which include at least seven states’ attorneys general, have launched consumer protection campaigns, hosted workshops and fairs, formed public/private task forces to share information on fraud targeting Spanish-speaking consumers, and/or filed lawsuits against fraud perpetrators targeting the minority group, according to the announcement.
The lawsuits included an identity theft and mortgage fraud scam.
In a document outlining recent efforts by FTC partners, the Miami, Florida State Attorney’s Office said they arrested Ocaris Fernandez, Frank Rodriguez, and Carlos Luis Fernandez, for their involvement in a complex mortgage fraud scheme in which stolen identities were used to take over homes from the rightful owners and obtain multiple fraudulent mortgage loans on the properties without the knowledge of the true owners. The proceeds the three individuals received from the loans they obtained using victims’ stolen identities totaled nearly $2 million, none of which has been recovered. Ocaris and Carlos Luis Fernandez are currently being held on $1 million bond and Rodriguez is being held in lieu of $500,000 bond.
The Texas Attorney General’s Office said in the document it has brought 18 cases to protect Hispanic consumers, including mortgage servicing lawsuits State of Texas v. FCI Equities, Frederick Cartwright, and State of Texas v. City Mortgage Services.
The forum was part of the series of workshops, hosted by the FTC and the U.S. Postal Inspection Service, which according to FTC Southeast regional director Andrea Foster, “play an important role in bringing local law enforcement and community leaders together — often for the first time — to discuss the issues most relevant to the Hispanic community and build lasting partnerships to help fight fraud.”
In addition to highlighting the recent federal, state and local efforts in protecting consumers from fraud, the FTC also unveiled during the forum a new Spanish-language consumer Web site, www.ftc.gov/espanol, as well as the publication of new Spanish-language consumer education materials.
