Haiti – Mario G. Bernadel was sentenced to nearly 17 years in prison for his conviction on multiple counts for leading a mortgage fraud scheme in Phoenix, Arizona that cost banks over $9 million.
In September 2009, Bernadel was found guilty by a jury on 19 counts related to mortgage fraud that includes mail, wire, bank fraud, and transactional money laundering. Bernadel led a two-year conspiracy involving the purchase of 37 properties using fraudulent loan documents and receiving cash back at closing.
Seven co-conspirators were also charged and have pleaded guilty for their involvement in the conspiracy and many will be sentenced in the next few months.
The case in opposition to Bernadel and seven others was based on an investigation by the Federal Bureau of Investigation that revealed that from December 2005 through March 2007 they conspired to commit mortgage fraud in Phoenix.