Four individuals, including a former newspaper publisher, mortgage broker, and title agent, are facing federal charges in a $10 million mortgage fraud scheme centered on luxury real estate deals in South Florida. The scheme targeted financial institutions through falsified loan applications and staged closings at a Fort Lauderdale condominium complex.
Marco Laureti, 45, of Sunny Isles Beach, and Felix Mostelac, 44, of Miami Beach, were indicted on one count of conspiracy to commit wire fraud affecting a financial institution and multiple counts of wire fraud, according to court records filed in the Southern District of Florida (Case No. 16-60340-CR-ZLOCH). Michelle Cabrera, 48, of Miami Lakes, and Pedro Melian, 39, of Hialeah, were charged by criminal Information with the same conspiracy count (Case No. 16-60354-CR-DIMITROULEAS). If convicted, each defendant faces up to thirty years’ imprisonment per count.
Laureti, a licensed real estate sales associate and mortgage broker, also operated Laureti Publishing Company. Mostelac, his longtime associate, owned multiple shell companies tied to the fraud. Cabrera operated Florida Elite Title & Escrow in Davie and acted as the title agent on the fraudulent transactions. Melian, too, controlled several businesses used to launder illicit funds.
The fraud revolved around 45 Hendricks Isle, a high-end condo complex in Fort Lauderdale. Laureti, Mostelac, and Melian submitted falsified loan applications and closing documents to financial institutions, inflating buyer assets and down payments. Once loans were approved, Cabrera diverted loan proceeds to cover the buyers’ required cash contributions — money that never existed. Additional funds were siphoned off to shell companies owned by Laureti and Mostelac.
Investigators say the same scheme was used to finance multi-million-dollar residential properties in Miami Beach for Laureti and Mostelac personally. Loan documents were falsified, and Cabrera, acting on Laureti’s orders, rerouted funds to pay for closings and enrich the conspirators. The total loss to financial institutions is estimated at $10 million.
Wifredo A. Ferrer, U.S. Attorney for the Southern District of Florida, praised the FBI’s Miami Field Office for its role in uncovering the conspiracy. Special Agent in Charge George L. Piro confirmed the case reflects ongoing efforts to combat institutional fraud. Assistant U.S. Attorney Randy Katz is prosecuting the case. The indictment and criminal Information are pending; all defendants are presumed innocent until proven guilty in court. Court records are available via the Southern District of Florida’s public portal.
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Key Facts
- State: Florida
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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