A Florida contractor has pleaded guilty to his role in a $36 million low-income housing scheme. Rene Sierra, 57, founder of Plantation-based siltek affordable housing LLC, was charged with paying about $6.2 million in kickbacks to four Miami-based developers, according to authorities.. Sierra pleaded guilty Aug. 6 and faces between two and three years in prison for theft conspiracy, the Miami.

A $4.25M home in Rancho Mirage for the Obamas? Outgoing and, by all accounts, semi-retired, President Obama is reportedly eyeing a home in rancho mirage listed at $4.25 million, and the first couple might be closing before the month is out.

The federal prosecution of an elaborate affordable-housing racket that cost taxpayers million has reached a turning point this week: Four prominent Miami developers and a Fort Lauderdale.

Prominent Miami developers plead guilty for $36M affordable housing scheme. Monday, 15 July 2019 by Jackson. Contents.. The South Florida men who engineered a scheme to steal millions of dollars for affordable housing are pleading guilty. Four prominent Miami developers and a major Fort Lauderdale contractor.

SEVERAL amendments tabled in the House of Assembly Wednesday proposed fee increases on government services, including character certificates, finger printing and vehicle chassis checks. FINANCE.

A major U.S. bank is allegedly using a blockbuster scandal that ended with the convictions of two prominent Miami developers as a means to take control of six affordable housing complexes. LLoyd.

Housing’s Second Leg Down A Closer Look at the Second Leg Down in Housing – John. – A Closer Look at the Second Leg Down in Housing. Our story so far: Following the 2000-03 dotcom crash, then Fed Chair Alan Greenspan brought Fed Funds rates down to ultra-low levels. Under 2% for 3 years, and at 1% for more than a year. Rates this low – and for that long – were simply unprecedented.

This summer, two South Florida building contractors have cut deals with Federal prosecutors, pleading guilty to charges that they scammed the government out of millions of dollars in affordable housing subsidies by conspiring to inflate costs on construction projects, paying kickbacks to Miami-based developers in exchange for sharing in the loot.

 · Who’s going to prison or getting fined over real estate or mortgage crimes?. 3 real estate giants plead guilty to $36M affordable housing scheme – Prison sentencing and restitution in. Miami real estate developers sentenced to various prison times and ordered to pay about $21 million of the $27.8 million in restitution for.

Miami Developers Crime Sponsored By Florida Developers To Plead Guilty In $36M Affordable Housing Scam Four developers are set to plead guilty to federal charges in connection to a.

New home sales plunge 13% in July Homebuilders: Relief In Sight – The plunge in oil. the REIT and broader real estate sector. The homebuilding sector (ITB and XHB) is a highly competitive and fragmented industry. The top ten largest builders account for roughly a.

$36 Million Affordable Housing Scam Exposed in Miami. September 11, 2015, 9am PDT . Two prominent developers have plead guilty to federal fraud charges for stealing millions of tax-payer dollars intended for low-income housing developments.. " their urban cores at the same time as a national recession and a real estate market beset by.