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Xolutex, Inc.

The Attorney General sued a Miami-Dade County business, its owners and several straw buyers for their alleged participation in an equity skimming scheme. The lawsuit names Xolutex, Inc., Ceasar F. Tavaras George Ibanez, Paola Pino, Laura Ibanez and Guillermo Gomez, claiming the equity losses as a result of the scheme exceeded $1.9 million.

The defendants allegedly sought homeowners who were in various stages of foreclosure proceedings and met with them under the guise of offering foreclosure rescue and credit counseling. Homeowners were then lured into the scheme where straw buyers would purchase the homes for inflated home prices, maximizing the money they could skim from the homeowners.

To facilitate the straw buyers’ ability to qualify for these loans, Xolutex and its principals allegedly helped falsify loan applications. Additionally, Tavaras and Ibanez allegedly convinced the homeowners to sign documents which caused virtually all of the equity in the homes to be paid to Xolutex.

Download a copy of the lawsuit