A man indicted last year on fraud charges involving a Cape Coral property was recently located in North Carolina by federal authorities.
Tobias Kurz was indicted by a grand jury on Dec. 15 for one count each of bank fraud and mail fraud. He reportedly defrauded two financial lenders out of about $3.27 million with a scheme involving two companies and a piece of property in the 3100 block of Southeast 22nd Place.
On June 13, Kurz was located by the Federal Bureau of Investigation and taken into custody, according to the U.S. Marshals Service Western District of North Carolina. He was released on bond the following day to report to Florida.
Kurz bought the Cape waterfront property in February 2005 and was also approved for a $1.5 million construction loan from Horizon Homes Loans. In December 2006, he was approved for a replacement construction loan from Century Bank that totaled about $1.77 million, according to documents.
At the time, Kurz was the owner of a business located in New York that promoted the activities of a Cape Coral company that constructed homes.
According to the documents, the Cape company received money from Horizon Homes Loans and Century Bank to fund construction on the home. The company made interest payments on the loans as they came due, but also transferred a portion of the loans directly to Kurz at his direction.
About $891,260 total in interest payments was reportedly made.
On both loans, Kurz reported that he and his wife had a combined monthly income in excess of $54,000, and that he had no business relationship with the builder that he had engaged to construct a residence on the property.
Both were representations that Kurz reportedly “knew were false.”