Today I met with my colleagues who work in the Economic Crimes Division, which is comprised of investigators, attorneys and administrative staff. This group of hardworking public servants is the enforcement authority for all multi-circuit violations of the Florida Deceptive and Unfair Trade Practices Act. The division protects consumers and legitimate businesses from those who engage in unfair methods of competition, or unconscionable, deceptive, or unfair acts or practices in the conduct of any trade or commerce. Two of the division's major focuses are mortgage and foreclosure fraud, which are relevant to so many Americans.
Just this week, we sued a mortgage brokering company, Franklin First Financial, Ltd., alleging that two of its employees conducted a mortgage fraud scheme that siphoned fraudulently obtained loan proceeds. The lawsuit claims that the company illegally obtained approximately $5.2 million from 11 properties. Nine of the properties were located in Pinellas County and two were located in Walton County. According to the complaint, more than $2.2 million of the loan proceeds were paid to third parties chosen by Franklin First employees. The lawsuit seeks divestiture of the profits Franklin First made on these transactions as well as the monies that Franklin First allowed their employees to keep.
The lawsuit filed this week is just one example of the rigorous and relentless work that the Attorney General's Office does to protect Floridians from fraud and other unscrupulous activity. I thank the divisions for their hard work and promise that we will continue to protect Floridians.
I also want to wish all of the fathers, grandfathers and other father figures a wonderful Father's Day weekend.