October 27, 2012

Two Coral Gable, Florida Sisters Arrested for Alleged Ponzi Scheme

Odalis Freixa and Marisela Gamez of Coral Gables, Florida were arrested on Oct. 23th for allegedly carrying out a $1 million ponzi scheme. The scheme is alleged to have taken place from 2005 to 2012. The sisters are facing charges which include grand theft, organized scheme to defraud and organized fraud in the scheme which could lead to a maximum prison sentence of 30 years for each charge. Authorities are alleging that the scheme was able to steal over $1 million dollars from friends over the course of seven years.

Odalis Freixa is the author of "The American Dream It's Not Forgotten" during which she detailed the options consumers have by using the foreclosures and loan modifications processes. She subsequently allegedly decided to use her knowledge of the real estate market and the financial processes attached to it to take advantage of innocent people. Freixa with the help of Gamez would allegedly tell clients, who were mostly friends they had known for years, that they would help them in the foreclosure and loan modification process. In reality, they were allegedly simply taking the money for themselves, and when their clients would begin to question them, the sisters would, according to the police, use delay tactics such as "lying to them on their position in the loan modification process and or foreclosure properties".

The scheme operated through several companies including FL Home Holdings LLC, FL Home Loans LLC, FL Home Realty Services, LLC, and the non-profit, The H.E.R.O. Foundation, Inc. These companies allegedly served as the front for Freixa's illicit operations and allowed her to allegedly lure her clients by appearing as a legitimate business. The end result was allegedly a seven year long scheme which caused over $1 million to be fraudulently acquired.

Sonn & Erez is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies. For more information, call toll free 1-866-372-8311 or 954-763-4700.