A Miami lawyer who won a $38 million verdict against a former Wachovia financial specialist convicted of mortgage fraud said the verdict may not be collectable but is meant to send a message to banks to be more vigilant against in-house mortgage fraud.
“The size of the judgment was meant to send a message to our community that banks must vigilantly watch out for mortgage fraud and bank employees will pay if they assist in fraudulent schemes,” said Andrew Moss of Kutner, Rubinoff & Moss. “Short of winning the lottery, we don’t think (defendant Nelson) Bermudez has many assets, but we will find out.”
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