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Former Executive Found Guilty In $13 Million Fraud Case

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By SHANNON BEHNKEN | The Tampa Tribune

Published: July 30, 2008

  Orson Benn

TAMPA - The former vice president of one of the nation's largest subprime lenders was convicted Wednesday for his role in a mortgage fraud scheme that involved more than 100 loans in Hillsborough, Pinellas, Polk and Pinellas counties.

Orson Benn, former vice president of Argent Mortgage Co., was found guilty by a Polk County jury, according to Florida's Attorney General's Office, which prosecuted the case. Benn, who was charged with racketeering and grand theft, could be sentenced to up to 105 years in prison.

The elaborate mortgage fraud scheme involved co-defendant Scott Almeida, who pleaded guilty and was sentenced in October to 10 years in prison.

Victims complained about incomplete or substandard construction work being performed by companies affiliated with Almeida. Almeida and his associates, who secured mortgages for homeowners to finance their home repairs, submitted fraudulent documents to Argent Mortgage Co., the attorney general's office said.

Benn oversaw the approval of the fraudulent loan applications. Investigators said more than 130 fraudulent loans were submitted for a total of about $13 million.

"This is an excellent resolution to a case that exemplifies just how destructive mortgage fraud can be," Attorney General Bill McCollum said in a news release. "We will continue aggressively prosecuting individuals like Benn, Almeida, and others who attempt to victimize Florida's homeowners and the mortgage industry."

The mortgage fraud scheme spanned more than two years and took three years to investigate.

Reporter Shannon Behnken can be reached at (813) 259-7804 or sbehnken@tampatrib.com.

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