Florida pastor found guilty of mortgage fraud

And get this, the pastor faces a maximum sentence of 90 years for liar loans!

A Florida pastor is facing as much as 90 years in prison after being convicted of defrauding multiple mortgage lenders, the U.S. Attorney’s Office for the Middle District of Florida announced Monday.

According to evidence presented in court, Nelson Cristiano Machado, Jr. “knowingly participated” in a scheme to defraud mortgage lenders by lying about his personal information in order to obtain multiple mortgages.

In a release, the U.S. Attorney’s Office said that Machado, 50, entered into a sale contract for the purchase of two residences in Cape Coral, Florida – one for $509,900, and another for $249,900.

But on his loan applications, Machado “falsely represented” his employment, the balance of his bank account, and falsely declared that each of the homes would be his primary residence, the U.S. Attorney’s Office said.

Read on.

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