Two title agents believed to be part of a six-member mortgage fraud ring have been arrested. The ring is suspected of duping several mortgage lenders and a homeowner out of nearly $2 million.

The arrests stem from an investigation involving the Department of Financial Services, Division of Insurance Fraud, and the Office of Financial Regulation. It focused on real estate transactions on five properties located in Dade, Broward, Palm Beach, and St. Lucie counties. On all of these properties, bogus mortgages were obtained using false HUD-1′s, sham appraisals, bogus second mortgages, false verifications of employment, earnest money that was never received, and other fraudulent documents.

Pamela Jones Johnson of Parkland, and Elena Gunter Granderson of Pembroke Pines, have each been charged with an organized scheme to defraud. If convicted on that charge, each could face up to 30 years in prison. Four other defendants are still being sought; one is believed to be in South Florida and three are being sought in the New York area.

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