- Associated Press - Tuesday, September 1, 2015

MIAMI (AP) - Four developers in Miami and a Fort Lauderdale contractor are pleading guilty to federal charges stemming from an alleged $36 million affordable housing fraud.

Biscayne Housing Group co-founders Michael Cox and Gonzalo DeRamon pleaded guilty Monday to conspiracy charges. Two principals in the Carlisle Development Group - former CEO Matthew Greer and co-founder Lloyd Boggio - are scheduled to plead guilty later this week.

B&K; Construction Services President Michael Runyan also pleaded guilty to a conspiracy charge Monday.

Federal prosecutors say the men and others stole $36 million in federal housing subsidies by inflating construction costs and taking kickbacks. Most of the projects were in inner-city Miami-area neighborhoods, including Overtown, Brownsville and Little Haiti.

The Miami Herald reports (https://hrld.us/1Vtclse ) prosecutors have recovered about $11 million of the stolen money.


Information from: The Miami Herald: https://theherald.com

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide