Carol Asbury’s Partner Carl Alexander sentenced for role in Asbury’s Versailles mortgage fraud scheme

The Palm Beach Post reports Carol Asbury’s partner Carl Alexander was sentenced to four years in prison. He was also ordered to pay $3.5 million in restitution.

Alexander was partners with now-disbarred attorney Carol Asbury. Asbury was founder and former owner of  the website She used the website to skirt around Florida Bar rules to market her law firm.

Asbury recruited low-income immigrant Latinos with good credit scores as straw buyers. The straw buyers would buy foreclosed home on NINJA loans 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.

Asbury and Alexander pocketed more than $15 million in mortgage loans on 12 homes. In addition, they pocketed more than $5 million in fraudulent loan proceeds.

Carol Asbury is a former assistant state attorney. Asbury and three co-defendants have already pleaded guilty. The four have been sentenced to 30 months, roughly 2 1/2 years, for their 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 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.

Read More About Fraudster Carol Asbury On MFI-Miami

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