Man used straw buyer with intellectual disability to defraud homeownership program, prosecutors say

MIAMI – A man was arrested on Friday for allegedly manipulating someone with an intellectual disability to steal from a local government program that is designed to help low-income first-time home buyers, according to Miami-Dade prosecutors.

Elie Floradin “engaged” the man as a straw buyer to obtain about $120,000 through fraudulent transactions involving the Miami-Dade’s Economic Advocacy Trust, according to the Miami-Dade County Commission on Ethics and Public Trust.

Floradin, 58, is accused of exploiting the Economic Advocacy Trust’s mission “to ensure the equitable participation of Blacks in ... economic growth” by targeting the trust’s Homeownership Assistance Program, which provides zero-interest deferred loans and second forgivable balloon mortgages.

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