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Mortgage Fraud Scheme Unraveled in South Florida
In a major blow to mortgage fraudsters, Ravindranauth ‘Ravi’ Roopnarine, 56, of Guyana, was sentenced to 21 years and 6 months in prison for his role in a massive mortgage fraud scheme that affected over 150 properties in Indian River, Miami-Dade, and Orange Counties in Florida.
According to court documents, Roopnarine led a conspiracy involving more than 80 straw buyers, who were mainly Guyanese residents of Florida and other states. The scheme resulted in the issuance of over $50 million in fraudulent mortgage loans, with the proceeds used to purchase additional properties, fund pre-existing fraudulent mortgage loans, and pay kickbacks to the straw buyers.
Roopnarine was convicted by a federal jury on all three counts of conspiracy to commit wire fraud and mail fraud, mail fraud, and wire fraud in violation of Title 18, United States Code, Sections 1349, 1341, and 1343, respectively. He was sentenced by U.S. District Judge Jose E. Martinez on July 14, 2016.
In addition to his prison term, Roopnarine was ordered to pay $9,041,133.46 in restitution to the defrauded lenders and banks. His supervised release will begin after his term of imprisonment, lasting five years.
Roopnarine’s co-conspirators, Gergawattie ‘Kamla’ Seecharan and her husband Bhaardwaj ‘Deo’ Seecharan, were also sentenced in connection with the scheme. Kamla Seecharan received 121 months in prison, while Deo Seecharan was sentenced to 60 months. Both were ordered to pay restitution, with Kamla Seecharan paying $2,040,343.14 and Deo Seecharan paying $9,041,133.46.
The investigation into the mortgage fraud scheme was conducted by the FBI, with assistance from the State of Florida Office of Financial Regulation, Bureau of Finance, West Palm Beach Regional Office, and the United States Marshals Service.
The case was prosecuted by Assistant U.S. Attorneys Theodore Cooperstein and James V. Hayes.
Related court documents and information can be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.
Ravindranauth ‘Ravi’ Roopnarine, a Guyanese national, was sentenced to 262 months in prison, followed by five years of supervised release, for his role in a massive mortgage fraud scheme that affected over 150 properties in Indian River, Miami-Dade, and Orange Counties in Florida.
The scheme, which involved more than 80 straw buyers, resulted in the issuance of over $50 million in fraudulent mortgage loans.
Roopnarine was convicted by a federal jury on all three counts of conspiracy to commit wire fraud and mail fraud, mail fraud, and wire fraud in violation of Title 18, United States Code, Sections 1349, 1341, and 1343, respectively.
The U.S. Attorney’s Office commended the investigative efforts of the FBI and thanked the State of Florida Office of Financial Regulation, Bureau of Finance, West Palm Beach Regional Office, and the United States Marshals Service for their assistance with the extradition and return of Roopnarine to Florida from Trinidad and Tobago.
The case was prosecuted by Assistant U.S. Attorneys Theodore Cooperstein and James V. Hayes.
Key Facts
- State: Florida
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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