Miami Mortgage Broker Accused of Theft

A licensed Miami real estate agent is accused of bilking a South Florida couple out of more than $100,000 by acting as a Florida mortgage broker.
Investigators say in 2002, James Warmington, 48, misrepresented himself as a licensed mortgage broker to a married couple and enticed them to invest in his company.

The couple then, believing him to be a mortgage broker, gave Warmington $150,000 to become a part of Warmington Consultants.

The money was supposed to be used to fund a Florida mortgage for a third party who was looking to purchase a home.

Warmington, allegedly acting as a Florida mortgage broker, met with both parties to complete the deal.

He executed all of the necessary paperwork for both the Florida mortgage and the promissory note.

However, police say, he the deposited the Florida mortgage loan check into one of his own bank accounts and never gave the loan to the third party.

Warmington has been charged with one count of Grand Theft and one count of Scheme to defraud.

SOURCE: CBS-4 TV