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Tuesday, August 03, 2010

Diego Siman Sentenced to 84 Months’ Imprisonment for $3.6 Million Foreclosure Investment Fraud, Siman Fraudulently Sold “Reservations” to Purchase “Soon-to-be Foreclosed” Properties.


Department of Justice Press Release
For Immediate Release
July 30, 2010 United States Attorney's Office
Southern District of Florida
Contact: (305) 961-9000

Diego Siman Sentenced to 84 Months’ Imprisonment for $3.6 Million Foreclosure Investment Fraud, Siman Fraudulently Sold “Reservations” to Purchase “Soon-to-be Foreclosed” Properties.  Siman, 37, collected $3.6 million from 15 individuals before he was arrested on wire fraud charges.

Wifredo A. Ferrer, United States Attorney for the Southern District of Florida, and John V. Gillies, Special Agent in Charge, Federal Bureau of Investigation (FBI), Miami Field Office, announced that Diego L. Siman, 37, of Miami, Florida, was sentenced today to 84 months’ imprisonment by United States District Judge James I. Cohn, after having previously plead guilty to committing wire fraud, CLICK HERE TO VIEW INDICTMENT.

D & E Investors, Inc;
Incorporated by Ana Miranda, Diego L. Siman, Ernest J Triche, D & E Investors, Inc is located at 306 Alcazar Ave Ste 303 Miami, FL 33134. D & E Investors, Inc was incorporated on Thursday, September 16, 2004 in the State of FL and is currently active. Diego Siman represents D & E Investors, Inc as their registered agent.


According to court documents and statements made in court today, Siman sought potential investors interested in purchasing properties that were allegedly soon to be in foreclosure. Siman told these potential investors that he had inside information from a bank employee about these certain properties that would soon be foreclosed upon.



According to court documents, Siman then told potential investors that for a fee, they could purchase a “reservation,” that would give the investor an opportunity to purchase the property at a discounted price as soon as it entered into foreclosure. The price quoted by Siman was substantially below market value, leading the potential investors to believe that the property could be resold for a profit.

 Siman fraudulently sold “reservations” to more than fifteen individuals who invested more than $3,600,000 believing that they had the option to purchase property that was soon to be foreclosed upon. In truth and fact, the defendant had no inside information regarding what properties would be foreclosed upon by a bank and never had the ability to purchase “reservations.” The properties for which the defendant sold “reservations” to purchase were not in foreclosure nor were they to be anticipated in foreclosure.


FBI Special Agent in Charge John V. Gillies stated, "This is a reminder to all of us that we need to do our own homework and due diligence when investing in unconventional markets. If something looks too good to be true, it probably is. The FBI is committed to investigating those who illegally enrich themselves by swindling investors.”

 
Mr. Ferrer commended the investigative efforts of the FBI agents involved in this case. The prosecution is being handled by Assistant U.S. Attorney Jeffrey A. Neiman.  A copy of this press release may be found on the website of the United States Attorney’s Office for the Southern District of Florida at www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the United States District Court for the Southern District of Florida at www.flsd.uscourts.gov  or http://pacer.flsd.uscourts.gov .


Bill Warner Private Investigator, SEX, CRIME, CHEATERS & TERRORISM