Florida Office of Financial Regulation

South Florida Man Arrested in Fraudulent Real Estate Investment Scheme

03/22/2017

For Immediate Release                               
March 22, 2017
 
Media Contacts:
Jamie Mongiovi (850) 410-9709
Katie Norris (850) 410-9826
Twitter: @FlFinancialReg
                                                                                                                       
South Florida Man Arrested in Fraudulent Real Estate Investment Scheme
 
Tallahassee, Fla. – The Florida Office of Financial Regulation (OFR) announces the arrest of Doral, FL real estate agent, Javier Ortiz on March 16, 2017. Mr. Ortiz was arrested on charges of organized fraud and grand theft in connection with his alleged role in promoting a fraudulent real estate investment scheme that victimized at least one Florida investor.
 
“The OFR is committed to fighting financial crime and ensuring Floridians’ finances are safe and secure,” said OFR Commissioner Drew J. Breakspear. “I applaud the OFR’s Bureau of Financial Investigations for their diligent work in keeping consumers and their money safe.”
 
While working as managing member of JOM Property Group, LLC, Mr. Ortiz allegedly sold a fraudulent investment opportunity to a South Florida investor. Mr. Ortiz told the victim that their funds would be used to purchase and rehabilitate investment properties. Mr. Ortiz claimed to have had a lifetime of experience in real estate investing and flipping homes.
 
In August 2013, the victim gave Mr. Ortiz a personal check for $230,000.00 to be utilized by JOM Property Group to buy and renovate homes. The OFR’s investigation determined that Mr. Ortiz used most of the investor’s funds for his personal living expenses. Mr. Ortiz later purchased a residential property, renovated it, and sold it, but did not share the profits with the investor.
 
The OFR served as the lead investigative agency, and the case is being prosecuted by the Miami-Dade County State Attorney’s Office. The agency appreciates the assistance provided by the Florida Department of Financial Services, Division of Investigative and Forensic Services.
 
If you feel that you may be a victim of fraud or to report suspicious activity, please file a complaint with the OFR online, www.flofr.com, or call (850) 487-9687.

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