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...units involved in the case are part of a 67-townhome development that was already an example of the South Florida property boom gone bust - a stagnant pool waiting for fraud to fester. The Residences at Rookery Park was initially marketed in 2004 as three- and four-bedroom townhomes for under $250,000 in west Fort Lauderdale, within earshot of a busy executive airport, on a busy corridor and miles from the beach. As the market boomed, the townhomes' starting prices soared to $349,000. A former broker said the units sold quickly, but then closings languished and buyers sought...

Author: /time Magazine | Title: Inside a Florida Mortgage Scam | 6/25/2008 | See Source »

Rivera, the owner of a title company, allegedly created a shell firm whose name (Rookery Park Estates PH) mirrored the real corporation that owned the townhomes, then acted as owner and seller of the townhomes when filing the loan applications - all without ever buying a unit. Louisma allegedly used his chiropractor business to falsify borrower names and incomes (making it seem they were his employees). The duo's accused associate, Michael Acosta, a Boca Raton property appraiser, allegedly filed paperwork listing the value of each townhome at $400,000, as Rivera put together a plan to buy them...

Author: /time Magazine | Title: Inside a Florida Mortgage Scam | 6/25/2008 | See Source »

...Everglades has been under siege for more than a century, in part because it doesn't look the way people expect environmental treasures to look. "To put it crudely," wrote Everglades National Park's first superintendent, Daniel Beard, "there is nothing in the Everglades that would make Mr. Johnnie Q. Public suck in his breath." If Crist can reverse the flow of history and help the Everglades flow again, that really would be a breathtaking change...

Author: /time Magazine | Title: Booting US Sugar from the Everglades | 6/24/2008 | See Source »

When a prime movie monster--the T. rex from Jurassic Park or the big angry mama in Aliens or the Schwarzeneggerian exoskeletons in the Terminator movies--pops onto screen, a kid's first thrilled reaction may be, "Where did that come from...

Author: /time Magazine | Title: Stan Winston | 6/19/2008 | See Source »

...policy best serves the long-term interests of all concerned. We are currently swamping the labor markets of the working poor, minorities, the unskilled and legal immigrants with millions of illegal workers who want to make a better life. Legal Americans deserve our compassion as well. Matthew Bracken, ORANGE PARK...

Author: /time Magazine | Title: Inbox | 6/19/2008 | See Source »

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