2 Arrested For $17M Bank Fraud In South Florida, New York
Jan 26, 2017 06:48 PM EST
Authorities say that two bank fraud suspects declared to own $17 million worth of property in Florida and New York and then victimized tenants and residents there. They are 51-year-old Antoaneta Iotova and 63-year-old Issak Almaleh.
Court documents show that they committed bank fraud and other offenses. They were arrested Wednesday in Hollywood according to Fox News, on charges of conspiracy and they will have to face the consequences of their behaviour.
The SunSentinel reports that Antoaneta and Issak selected properties in foreclosure which were owned by Federal Deposit Insurance Corporation (FDIC) - insured banks. Authorities state that the pair filed fraudulent and forged warranty deeds to show the transfer of these properties to corporations controlled by them.
They have scammed many people in the past
Authorities declare that Antoaneta and Issak used a fraudulent deed to temporarily evict someone from a Hollywood home in 2015 according to the Washington Post. The authorities also state that they scammed two people into signing lease agreements and giving cash.
Many people have been victims of financial fraud and have lost big sums of money. Scammers know how to trick the potential victims and they make a good use of fraudulent documents to get it.
Properties are ideal for scammers
Properties have high values and this is ideal for scammers like Antoaneta Iotova and Issak Almaleh because they can amass big fortunes by tricking people, but this is also very risky. Today we live in an era where technology lets people and companies discover the truth, there is plenty of information available to get confident data and catch dishonest people.
The pair remained in jail Thursday, and records don't list an attorney. There are many indicators that show they will have a hard time trying to find a solution for all their legal problems.