Orlando, FL – Maria Del Carmen Montes, a 48-year-old resident of Kissimmee, has been sentenced to 33 months in federal prison for her involvement in a bank fraud scheme. Montes had pleaded guilty to the charges on January 4, 2024.
The fraud scheme, which Montes orchestrated alongside co-conspirator Carlos Ferrer and others, targeted financial institutions through deceptive mortgage practices. Montes, who assisted clients in purchasing homes, would refer them to a loan officer at a mortgage company after the real estate contract was signed. To help her clients qualify for mortgage loans they were not eligible for, Montes provided their personal and financial information to Ferrer. She instructed Ferrer to fabricate paystubs and W-2 forms that falsely represented her clients’ earnings and employment histories. These documents falsely indicated that her clients were employed by companies they had never worked for.
Once Ferrer created these fraudulent documents, Montes submitted them to financial institutions, which relied on the falsified information for their underwriting decisions.
Carlos Ferrer, involved in creating the fictitious documentation, received a sentence of four months in prison on August 13, 2024. He was also ordered to serve three years of supervised release for his role in the fraudulent activities.
The case was thoroughly investigated by the Federal Housing Finance Agency – Office of Inspector General, the U.S. Department of Housing and Urban Development – Office of Inspector General, and the Federal Bureau of Investigation. Prosecution was led by Special Assistant United States Attorney Chris Poor.