Final Defendant Pleads Guilty in Massive Miami Housing Fraud Case Totaling $36 Million - NBC 6 South Florida

Final Defendant Pleads Guilty in Massive Miami Housing Fraud Case Totaling $36 Million

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    The seventh and final defendant in a $36 million affordable housing fraud case has pleaded guilty in South Florida federal court.

    A U.S. Attorney's Office news release says 70-year-old Lloyd Boggio pleaded guilty Monday to money laundering. He faces up to 10 years in prison at a Dec. 9 sentencing. He's already agreed to forfeit about $2 million and a multimillion-dollar home in Coconut Grove.

    Boggio is co-founder of Carlisle Development Group. Prosecutors say Boggio and others at Carlisle stole millions of dollars in federal housing subsidies by falsely inflating construction costs and taking kickbacks for Miami-area apartment developments intended for low-income people.

    Six others previously pleaded guilty in the scheme: Matthew Greer, Michael Runyan, Gonzalo DeRamon, Michael Cox, Rene Sierra and Arturo Hevia.

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