Am I criminal too? If I used dirty money.?
I had a friend (James) who was a mortgage broker also a investor. Year 2006 we purchased property in Florida. He told me that would be a good investment property. About six months later he asked me to go to settlement because we have a buyer. He also mentioned “We will make $ 150K each.” I Said “How come. In six month?” He goes “Dude I told you it is a good investment property…” and we had a settlement and I made $ 150K. After couple months he was caught by FBI for other crimes. Now he is in federal prison. Problem is that the property we bought and sold in Florida, he (James) inflated value more than $ 400K by using false appraiser. (*some reason he controlled buyer’s loan application also hired appraiser by himself. Appraiser was conspirator too.) Believe or not I didn’t know any thing about that. Now I realize that it was a mortgage fraud. Luckily? – James was not charged about this fraud. But the person who bought a property (Victim) tries to sue James and appraiser and all the conspirators.
Here is my question.
As I mentioned earlier I didn’t know anything about that mortgage fraud. But I received $ 150K and I used it already.
Am I going to be safe from crime and civil action? or am I responsible for buyer’s loss?