Bradenton Pastor Sentenced To Three Years For Wire Fraud In Connection With Three Lee County Fraudulent Mortgages

Fort Myers, Florida – U.S. District Judge Sheri Polster Chappell today sentenced Nelson Cristiano Machado, Jr. (50, Bradenton) to three years in federal prison for wire fraud.  A federal jury found him guilty on June 24, 2016.

According to evidence presented at trial, Machado knowingly participated in a scheme to defraud mortgage lenders. He entered into a sales contract for the purchase of two residences in Cape Coral, one for $509,900, and another for $249,900. In his loan applications, Machado falsely represented his employment, the balance of his bank account, and that each of the homes would be his primary residence. He also failed to disclose to his second mortgage lender that he had already obtained a first mortgage in the amount of $343,000 and a second mortgage in the amount of $147,000. Machado also failed to disclose the purchase of another residence located in Fort Myers for which he had obtained a mortgage in the amount of $189,050.  Relying upon Machado’s false representations, the mortgage lenders approved his loan applications and wired the funds to the designated title agencies for closings.

This case was investigated by the Federal Bureau of Investigation and the Florida Department of Law Enforcement. It was prosecuted by Assistant United States Attorney Yolande G. Viacava.