Affordable Housing Developers Face Fraud Charges in Miami

Executives connected to Florida's largest affordable housing developer are facing federal charges in Miami.

Court records show that Matthew Greer, CEO of Miami-based Carlisle Development Group, and Lloyd Boggio, the company's founder, were charged Tuesday in a fraud scheme. The Miami Herald reports that they're accused of padding the cost of inner-city housing projects to qualify for larger federal tax credits and then splitting the excess profits among themselves and others.

Carlisle's partners in several affordable housing deals in Overtown, Little Haiti and other poor areas also face charges. They include former Biscayne Housing Group President Michael Cox, as well as that company's co-founder and CFO, Gonzalo DeRamon. Also charged are BJ&K President Michael Runyan and Siltek President Rene Sierra.

All of the defendants are scheduled to make their first appearances later this month.

Copyright AP - Associated Press
Contact Us