Florida Attorney General, Ashley Moody, has opened a criminal probe into the Tate brothers, Octavio and Fernando, following allegations of fraud and theft against them. The brothers, who are from Miami, have been accused of scamming millions of dollars from investors through their real estate development company, Tate Capital.
The investigation has been ongoing for several months, and Moody has hired former federal prosecutors to help with the case. The brothers have been involved in several high-profile real estate projects in Florida, including luxury hotels and residential developments. However, their business practices have come under scrutiny in recent years.
According to court documents, the Tate brothers have been accused of using investor funds to pay off personal debts and finance their lavish lifestyle. They have also been accused of submitting fraudulent documents to obtain loans and inflate the value of their properties.
Moody has stated that her office is committed to holding the Tate brothers accountable for their alleged crimes and is working to ensure that investors are reimbursed for their losses. The criminal probe is expected to be a lengthy process, as investigators sift through financial records and interviews with victims.
The Tate brothers have denied any wrongdoing and have stated that they are cooperating with the investigation. They have hired their own legal team to defend themselves against the allegations.
Overall, the criminal probe into the Tate brothers has sent shockwaves through the real estate community in Florida. Many investors who have lost money in their projects are hopeful that justice will be served and that they will be able to recoup their losses. Meanwhile, the Tate brothers are continuing to maintain their innocence and are preparing to fight the charges against them.
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