FORT MYERS — Former Lee County mortgage broker Thomas Errico has been charged with fraud for his role in a mortgage loan modification and investment scam that authorities say exceeded $1 million nationwide.
Errico was arrested June 10 on a charge of communications fraud, according to a statement from the Florida Office of Financial Regulation. The Lee County Sheriff’s Office assisted the OFR with the investigation, the release states, and the Fort Myers Police Department is credited with the arrest.
Authorities allege Errico told his victims he could “find fraud” in their mortgage loans, which would enable him to demand loan modifications or cancellation of the loans from the lending institutions. He also allegedly promised his victims that if he couldn’t uncover fraud in the mortgage loan documents, he would refund any fees, the release states.
“However, based on the OFR’s investigation, it is…