Floridian Charged in Fraud Scheme
U.S. Attorney’s Office August 18, 2011 |
The 11-count superseding indictment named, Sararo, 41, as the sole defendant.
According to the indictment presented to the court, Sararo participated in a fraud scheme designed to solicit investors to purchase Florida real estate, and to lenders to lend money for the purchase of Florida real estate based on a series of misrepresentations.
The indictment further alleges that Sararo directed that an individual falsely notarize deeds; that Sararo directed that another individual call an investor and falsely claim that he represented individuals interested in purchasing the investor’s properties; that Sararo made several misrepresentations to an investor; and that Sararo requested that another individual signed a backdated document falsely representing that the individual was interested in purchasing one of the investor’s properties. The indictment further alleges that Sararo participated in a scheme to defraud a lender by assisting in the submission of a loan application that falsely represented the application’s financial condition.
The indictment also alleges that Sararo filed false federal income tax returns and false federal amended income tax returns for the calender years 2004 and 2005 in that he failed to accurately report his income.
The law provides for a maximum total sentence of 152 years in prison, a fine of $2,750,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant United States Attorney Brendan T. Conway is prosecuting this case on behalf of the government.
The Internal Revenue Service-Criminal Investigation and the Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.
An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.
Courtesy FBI



Legal Disclaimer
Please be advised that:
The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.
By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.
Department of Justice Legal Policies
Click "HERE" For Today's Question
Saturday Nite
9pm-12am Central
University of Memphis
WUMR
Support
America's Hobby
Mr.Saks' participation in ActiveRain ended April 13, 2015.
His blog archives will remain online.
May God bless you.