Clearwater man admits to mortgage fraud

TAMPA — Randy Platfoot, 54, of Clearwater pleaded guilty to making false statements in mortgage loan applications.

He faces a maximum penalty of 30 years in federal prison.

Platfoot applied for two separate mortgage loans from Washington Mutual Bank between September 2005 and April 2007 for the purchase of properties in Myakka City and Sarasota, according to a statement from the U.S. Attorney's office in Tampa. In the loan documents Platfoot signed and submitted to the bank, he made false statements about his income and about the lack of subordinate financing in connection with one of the properties, prosecutors alleged.

Platfoot eventually defaulted on both loans.

His sentencing is scheduled for Dec. 18.