Pasco County man gets prison time for nearly $800K mortgage scam

A federal judge has sentenced John Alberto Stolard to prison for conspiracy to commit wire fraud in a scheme that involved filing quit claim deeds for properties he did not own.

The 48-year-old Wesley Chapel resident was ordered to serve one year and one day and must forfeit $747,388.30.

Stolard pleaded guilty in October.

According to the U.S. Department of Justice, Stolard and a co-conspirator forged quit claim deeds on five properties and then filed them with the Hillsborough County Clerk of Court.

Using those deeds, he applied for several online mortgages using the properties as collateral, authorities alleged. 

The unnamed owner was someone Stolard knew and had previously worked with.

In all, officials say he was able to get $827,000 in mortgage loans on the properties.

It is not immediately clear if the property owner got the properties back or if they were lost.

According to Hillsborough County records, there is a federal lien filed against Stolard and six notifications showing mortgages had been satisfied.

Robert Engel, the U.S. Secret Service special agent in charge of the Tampa field office, says in the statement that the agency uncovered the fraud that “nearly caused devastating financial losses for an innocent victim.”

“Mr. Stolard epitomized the betrayal of trust, abusing his position to steal over $800,000 in property while fraudulently posing as the rightful owner,” he says.

The case was investigated by the Secret Service and the Hillsborough Sheriff’s Office. It was prosecuted by Assistant United States Attorney Jennifer L. Peresie.

U.S. District Judge Mary S. Scriven oversaw the case and sentenced Stolard.