Delray, Boynton residents charged with bank fraud

By Palm Beach Business.com

MIAMI — A Delray Beach man and two Boynton Beach residents have been indicted on federal bank fraud charges in connection with a $6 million loan scheme.

Carlos Cano, 53, of Delray Beach, Robyn L. Colon, 34, of Boynton Beach, and Jose L. Colon, 52, of Boynton Beach and Maria L. Lozada, 40, of Miami, were each charged with eight counts of bank fraud and one count of conspiracy to commit bank.

The four allegedly scammed three banks and other lenders of more than $6 million in loans. If convicted, the defendants face a maximum statutory sentence of 30 years on each count.
The indictment alleges that the defendants were involved in the financing of five homes in Miami-Dade County. Lozada would identify properties that could be used in the scheme, and then recruited Cano and the Colons to pose as buyers.

The defendants then applied for loans while allegedly lying about their jobs, assets and intent to live in the properties. Lozada would use her company, Southeast Florida Marketing, to receive mortgage proceeds and cash rent payments derived from the properties.

Eventually, the defendants stopped making payments on the mortgages and the properties went into foreclosure, resulting in about $2.5 million in losses to Chevy Chase Bank, Chase Bank, Washington Mutual and other lenders.