A former Miami real estate agent who worked with his sister, a mortgage broker, and his nephew, a title agent, to flip properties during the boom has landed all three family members in prison after they were convicted of using three companies to secure more than $2.4 million in loans under false pretenses.
Former real estate agent Jose Armando Alvarado, 64, was sentenced to 11 years and three months in prison. His sister, Reyna Orts, 58, was sentenced to four years and two months. Orts’s son, Alberto Morejon, 27, was sentenced to three years in prison. The companies involved were South Florida Realty, American Mortgage Lending and Royal Atlantic Title. Source: fbi.gov