A Collier County man was arrested last week after he forged signatures to obtain mortgage loans totaling $180,000,Â state investigators said.
Ben Handa, 53, faces three felony chargesÂ of fraudulently obtaining a mortgage loan, scheming to defraud one or more persons obtaining property of $50,000 or more, and scheming to defraud a financial institution, according to court documents.
Deputies arrested Handa on a warrant Friday. He was booked at the Naples Jail Center and posted the $70,000 bail Sunday.
Officials from the Office of Financial Regulation started investigatingÂ Handa in October 2015 after they received a complaint filed with the Sheriff’s Office by Fraud Review Counsel Jennifer Lee with Fidelity National Title Group, a title insurance company.
Lee’s complaint allegedÂ Handa obtained two mortgages on a property owned by his sister by forging her name on a deed and transferring the title to a company for which he was the sole responsible person.
The complaint alleged that on July 8, 2014, Taylor Made LendingÂ LLC gave a loan to Green Capital HoldingsÂ LLC for $150,000 on a property in the 500 block of 97th Avenue in North Naples.Â Â
Later, on July 25, 2014, Taylor Made Lending made out a second loan to Green Capital Holdings for $30,000 on the same property, according to an affidavit.
Fidelity National Title Group paid $180,000 to the insured lender, Taylor Made Lending, due to the forged deed from Handa’s sister to him, the affidavit states.
Green Capital Holdings was formed two weeks before the transactions took place by Handa, the affidavit states. HeÂ was the sole member of Green Capital Holdings and the cash at closing was disbursed to him, according to the affidavit.
During a voluntaryÂ interview with investigators, Handa admitted signing the loan documents and getting the money. Handa told investigators he is the owner of Green Capital Holdings and “stole the house” from his sister, according to the affidavit.
The day he signed the first loan for $150,000, he had someone “cash PNC Bank starter checks to purchase emeralds,” the affidavit states.
“He received the money, spent it and his sister did not get a nickel of the money,” investigators wrote.
Handa told investigators that he is aware of his sister’s civil lawsuit against him and said she won the judgment and he was evicted from the property, the affidavit states.
In his deposition, Handa said he planned to use the house as collateral to fund Green Capital Holdings, according to the affidavit.
When investigators checked the PNC Bank account tied to Green Capital Holdings, they found two wire transfers from Taylor Made Lending in July 2014, one totaling $133,098.87Â and another for $24,233.56.
That account was left with a zero balance as of Aug. 12, 2014, according to the affidavit.
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