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Miami Developer Indicted on Bank Fraud Charges
A 49-year-old Miami developer has been charged with conspiracy to commit bank and wire fraud and six counts of bank fraud, according to federal investigators.
Rebecca Gheiler, the owner of Tribute Residential, LLC, allegedly developed a program of incentives to entice buyers to purchase condominium units in her communities. The program included promises of mortgage and homeowners’ association dues paid during the buyer’s first two years of occupancy, as well as upfront cash and kickbacks to buyers.
However, according to the indictment, Gheiler falsified information on HUD-1 Settlement Statements to conceal the true terms of each transaction from mortgage lenders. She also directed her co-conspirator, Angel Garcia-Oliver, to form companies that received money from Tribute, which was then paid to buyers and entities controlled by other co-conspirators.
Garcia-Oliver, who previously pleaded guilty in the case, is scheduled to be sentenced on January 9, 2017. If convicted, Gheiler faces a maximum penalty of 30 years in federal prison on each count, as well as a forfeiture money judgment.
Assistant United States Attorneys Vincent Chiu and Special Assistant United States Attorney Chris Poor are prosecuting the case, which was investigated by the Federal Housing Finance Agency – Office of Inspector General, the Florida Office of Financial Regulation, and the Federal Bureau of Investigation.
The indictment serves as a formal charge, and Gheiler is presumed innocent until proven guilty. An acquittal was previously reached in a related case, in which Gheiler was accused of the same charges.
Key Facts
- State: Florida
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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