A key player in a $11 million mortgage fraud scheme involving a South Florida mayor pleads guilty.

Karl Oreste admits to going on Haitian American radio to recruit straw buyers to obtain phony mortgage loans on 20 properties.

Suspended North Miami mayor Lucie Tondreau is also being charged for her alleged role in the fraud scheme. She is maintaining her innocence.

Oreste faces up to thirty years in prison but will likely receive a lighter sentence after agreeing to cooperate with federal investigators.

 

(PHOTO: CBS4)