A two year FBI investigation into Sarasota house flipping is turning into what may be the largest case of mortgage fraud in Florida's history.

A local real estate agent Craig Adams has been providing information to the FBI about one of the largest mortgage fraud schemes in Florida history. One of his longtime associates may become the center of attention as losses enter the millions, according to the Sarasota Herald-Tribune.

Jonathan Glucker was in line to become the next president of the Gulf Coast Mortgage Bankers Association but now he's expected to step down or be removed from the board of directors after news reports alleged that he participated in at least 10 deals with Adams since 1997.
 
 
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The days of simply hanging out a shingle and opening up a loan modification business are coming to an end in Florida.

As of Jan. 1, individuals or companies providing loan modification services must be licensed by the Florida Office of Financial Regulation (OFR).

The law was sparked by hundreds of complaints filed with the state attorney general’s office.

Just last week, Florida Attorney General Bill McCollum’s office announced it had filed a lawsuit against three Miami-Dade County companies charging them with taking part in a foreclosure rescue scam. The companies, identified as Kirkland Young LLC, Attorney Aid LLC and ABK Consultants, allegedly charged up-front and back-end fees. Charging such fees is illegal.
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Juan Carlos Gonzalez, one of the Jacksonville defendants investigated during a state-wide mortgage fraud surge, has been sentenced to seven years in federal prison for conspiring to commit wire and bank fraud.

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