[Image: A logo of a bank with a red ‘X’ marked through it]
In a shocking revelation, former home lending executive Braden Koegel was sentenced to three years and six months in federal prison for bank fraud. Koegel, 35, of Apopka, pleaded guilty on November 21, 2013.
According to court documents, Koegel fraudulently obtained over $2 million worth of fraudulent home mortgages on two properties in North Carolina. He did so by utilizing ‘straw purchasers’ (individuals who would act as buyers) to purchase the properties, and by lying about the income and assets of these straw purchasers on loan applications.
The case was investigated by the Federal Bureau of Investigation, U.S. Immigration and Customs Enforcement’s Homeland Security Investigations, and the Florida Division of Financial Services. It was prosecuted by Assistant United States Attorney Vincent S. Chiu.
Koegel’s scheme ultimately resulted in a loss of over $1 million to the lenders. His actions are a stark reminder of the dangers of mortgage fraud and the importance of financial regulation.
The sentencing comes as a relief to the victims of Koegel’s scheme, who will no longer have to worry about the financial burden of his actions. However, the case also raises questions about the lax regulations that allowed Koegel to carry out his scheme.
As the Grimy Times continues to investigate this case, we will provide updates and insights into the world of financial crimes. Stay tuned for more information.
[Image: A photo of a gavel]
Mandatory Facts:
– Defendant: Braden Koegel
– Criminal Charge: Bank Fraud
– City and State: Orlando, Florida
– Date: November 21, 2013
– Sentence: Three years and six months in federal prison
– Dollar Amount: $2 million
Related Federal Cases
- Jose Salvador Lantigua, Bank Fraud and Life Insurance Scam, Florida 2013 · Florida
- Daniel Santos, Bank Fraud and Aggravated Identity Theft, Florida 2021 · Florida
- Jeffery Hall, Mail Fraud, Florida 2023 · Florida
- Robert Anton Woodring, Mail Fraud and Conspiracy to Commit Mail Fraud, Florida 2015 · Florida
- Domenico Dom Rabuffo, Mortgage Fraud Scheme, Florida 2023 · Florida
Key Facts
- State: Florida
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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