Alexander sentenced for role in Carol Asbury and her Versailles mortgage fraud scheme

Jane Musgrave of the Palm Beach Post reports Carl Alexander of Miami was sentenced to four years in prison and ordered to pay $3.5 million in restitution for his role in a mortgage fraud scheme with foreclosure defense attorney Carol Asbury, founder and former owner of  the website 4closurefraud.org which she used to skirt around Florida Bar rules to market her law firm.  The scheme involved recruiting low-income immigrant Latinos with good credit scores as straw buyers for foreclosed home in the Versailles section of Wellington Florida. He and Asbury would later inflate the value of the homes by using bogus appraisals and pocket the difference.

The scheme led to sales worth more than $15 million in mortgage loans on 12 Versailles homes and more than $5 million in fraudulent loan proceeds.

Carol Asbury, former assistant state attorney and former owner of the website, 4closurefraud.org and three co-defendants have already pled guilty and have been sentenced to 30 months, roughly 2 1/2 years, for her role in the scheme.

Asbury rose to prominence last May after she got upset that Judge Meenu Sasser in Palm Beach County was consistently ruling against her and other foreclosure defense attorneys in her circle.  Asbury through her website 4closurefraud.org did a Glenn Beck style stunt and posted the contents of Judge Sasser’s mutual fund on the site. The fund contained stock holdings in several major banks.  She and her webmaster, Michael Redman tried to assert Judge Sasser unfairly ruled against foreclosure defense attorneys because doing so would enhance the value of her mutual fund.   Soon after posting this, they followed it up with another article claiming every judge in Palm Beach County is corrupt because the county’s pension fund has funds tied to the major banks.