Sarasota real estate professional gets prison time for lying on mortgage application

A Sarasota real estate professional is headed to federal prison for lying on a mortgage application, according to the U.S. Department of Justice.

Freddy Orjuela Sr., 49, of Sarasota, was sentenced by U.S. District Judge James D. Whittemore to two years in federal prison on Monday, according to the Department of Justice. Whittemore also ordered Orjuela to pay $960,020 in restitution.

Federal prosecutors said the real estate professional submitted a mortgage application to Century Bank, which is federally insured. The application “willfully overstated his income, understated his liabilities and falsely denied he had declared bankruptcy within the past seven years.”

Orjuela was found guilty by a jury on Dec. 14 after a three-day trial, according to the Department of Justice.

The court also entered a financial judgment in the amount of $1,475,950, the proceeds of the fraud, according to the Department of Justice.

This story was originally published February 28, 2017 at 5:06 PM with the headline "Sarasota real estate professional gets prison time for lying on mortgage application."