A scheme run through a Florida brokerage takes more than $50,000 in total from six borrowers. How does Chapter 494 grade that offense?
Correct Answer
B) As a felony of the first degree, the grade the chapter applies above $50,000 with five or more victims
Section 494.0018(2) makes a violation a felony of the first degree where the total value of money and property unlawfully obtained exceeds $50,000 and there are five or more victims. Knowing violations of the licensing and fraud provisions listed in subsection (1) are third-degree felonies, each violation a separate offense. Source: Fla. Stat. § 494.0018(2)
Why This Is the Correct Answer
Section 494.0018(2) makes a violation a felony of the first degree where the total value of money and property unlawfully obtained exceeds $50,000 and there are five or more victims. Knowing violations of the licensing and fraud provisions listed in subsection (1) are third-degree felonies, each violation a separate offense. Source: Fla. Stat. § 494.0018(2)
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