Pam Bondi: Three in Mortgage Fraud Plead Guilty to Racketeering

A trio of Tampa residents pled guilty on Wednesday to racketeering and conspiracy to commit racketeering for mortgage-fraud-related crimes, Attorney General Palm Bondi announced.

Craig Hudson, 40, Lynne Hudson, 35, and Eric Rivero, 39, will be sentenced at a later date for the mortgage fraud scam that involved more than 50 fraudulent mortgages, for 33 properties in Pinellas, Pasco, Hillsborough, Hernando, Osceola, Seminole and Orange counties, totaling $8.8 million.

Craig Hudson faces a maximum sentence of 12 years in prison, and Lynne Hudson and Eric Rivero each face a maximum sentence of 4½ years in prison.

As part of their plea agreements, the Hudsons and Rivero will cooperate with authorities in the cases pending against their co-defendants William Bolton and Stephanie Bolton.

“Mortgage fraud directly affects the lending industry and exacerbates Florida's housing market crisis,” Bondi stated in a release. “This case exemplifies our commitment to working together with state and local agencies to stop mortgage fraud in our state.”

In the scheme, which occurred from 2003 to 2007, false residential mortgage loan applications and associated documents were prepared for residential mortgage loan lenders. Ultimately, the lenders approved the residential loan applications and funded 50 mortgage loan applications totaling approximately $8.8 million.

The mortgage fraud scheme spanned seven counties and centered around First Mutual Mortgage, a Tampa-based mortgage company formed by co-defendant David Barile. Barile and his wife Melissa Barile plead guilty in November. They continue to await sentencing.

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Comments (2)

Dick Larosa
11:16PM MAY 4TH 2012
Correction on above he bought the house for $90k and sold it one year later for $268k .
Dick Larosa
9:58PM MAY 4TH 2012
David Barile bought the house next to mine in Tampa, rented it out for a year let it run down then sold it to another person that continued to rent it out and he let it continue to fall apart till it was forclosed on . Mr Barile bought the house for $90k and sold it for $168k 1 year later. The house sat vacant for over a year and looked like it should have been torn down it was in such bad shape, but the Bank found a buyer and at this time the house still looks like crap, I ended up with a Man and his his daughter and 3 pit bulls as next door neighbors that have been a problem since they moved in. I have seen the daughter buying drugs (Cocaine) in broad daylight I have contacted the TPD about that. For what he did I hope David gets the Max, I believe he has been arrested before on a similar charge. This scum bag and his wife need 25-30 years in a cell. He is a dirtbag.

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