Reafael Sanchez, an Orange County, Florida real estate agent, is facing charges after federal prosecutors said he devised a short sale fraud scheme.
Sanchez is alleged to have concocted a scheme to help owners in foreclosure to file fraudulent bankruptcy paperwork. The bankruptcy stays would possibly give Sanchez enough time to conduct a short sale of the properties and earn himself a commission.
Federal prosecutors, though, said that over a two-year period, Sanchez collected money and assisted at least 30 homeowners facing foreclosure in filing fraudulent bankruptcies. All of the bankruptcies he helped his clients file were dismissed in 14 or 15 days, according to bankruptcy attorney Scott Shuker.
Sanchez, who faces up to five years in prison, has agreed to make a plea in the case, but a date hasn’t been set.
Read the original article in WFTV Orlando.