Article Courtesy of The Real Deal
Published May 9, 2018
Mordechai Boaziz, director of Miami-based Maverick
Investments, was indicted on federal charges of conspiring to lie to banks
and a federal agency.
His attorney in Tampa, John Fitzgibbons,
said Boaziz is innocent and intends to fight the indictment.
Boaziz could face a $1 million fine and as many as 30 years
The charges against Boaziz stem from his acquisition of an
apartment complex in Tampa in the late 2000s to convert the
property to a condominium.
The indictment indicates that Boaziz and others misled banks
and the U.S. Department of Housing and Urban Development
(HUD) by failing to disclose financial incentives to induce
purchases of condominium apartments at The Preserve on
Sanctuary Cove Drive in Tampa.
Misleading the banks and HUD allowed Boaziz to obtain $15
million of mortgage financing, according to the indictment
Boaziz is charged with misleading banks and a federal agency to
obtain $15M of loans in connection with a condo conversion in Tampa.