A Jamaican lawyer based in Florida is among five persons indicted by a federal grand jury on seven charges.
Michael Samuda, who is licensed to practise law in the United States, and four co-defendants were indicted on April 19 on charges of conspiracy to commit six counts of wire fraud.
It is alleged that for an unknown period starting in 2005, Samuda and others conspired to commit fraud by submitting residential loan applications and supporting documents which contained false information to a company which was in the business of lending money to borrowers on properties.
According to the indictment, Samuda and his co-defendants used 'straw buyers' to purchase the properties at prices much higher than the properties were actually sold for.
The US authorities further claim that almost US$4 million was paid out by the loan company with the difference between the real selling price and the inflated price shared by Samuda and others.
The Jamaican attorney could face a lengthy prison stretch and forfeiture of some of his assets if he is found guilty.