Home 'flipper' sentenced to 10 years for scheme
TAMPA, Fla. - A developer who "flipped" houses throughout Florida has been sentenced to 10 years in prison for what prosecutors say was a mortgage fraud scheme.
A federal judge also ordered 42-year-old Joseph Daniele to pay a $7.4 million judgment.
Daniele pleaded guilty to fraud conspiracy in May.
Prosecutors say Daniele advertised "no money down" home investment opportunities to buy homes targeted to low-income buyers with good credit.
However, prosecutors say the loans required the investors actually to put their money into the deals.
Prosecutors say the scheme involved hundreds of properties. Most of the properties fell into foreclosure, resulting in at least $7 million in losses.
- Man Sentenced to 14 Years for Dog's Death
- Man Gets Life Sentence for Boy's Death
- Home Sales in North Central Florida Rise Significantly Compared to Last Year
- Tailgate Fever- 'Home-Gating' Tips
- Newberry Man Plans Splash Park, In Lieu Of Serving 10-year Federal Sentence
- Family of 20 Year Old Sentenced to Death Speaks Out
- Former Gainesville Police Officer Receives Two Year Prison Sentence
- Fla. Man Sentenced to Seven Years For Attacking Wife With Hatchet
- Drew Peterson Sentenced to 38 Years for Murder
- African Sentenced to 11 Years in Child Labor Case