Former Attorney Pleads Guilty in Florida Title and Escrow Real Estate Fraud Scheme

Published Nov. 6, 2026. Case status is current as of that date.

Title and escrow accounts are supposed to hold other people's money for closings. On Sept. 14, 2026, the U.S. Attorney's Office for the Middle District of Florida announced that Michael Saracco, 40, of Cocoa, a former attorney who owned Driftwood Title and All Florida Property Solutions, pleaded guilty to three counts of wire fraud [1].

Status: Saracco has pleaded guilty. Sentencing is set for Dec. 2, 2026. Each wire fraud count carries a maximum of 20 years [1].

How the scheme worked, according to court documents

According to the U.S. Attorney's Office summary of court documents [1], between August 2019 and July 2025 Saracco defrauded private lending companies, financial institutions, and title insurance underwriters by, among other things:

1. Soliciting private lenders for loans secured by properties he purported to own or planned to buy.
2. Falsely representing that the properties were unencumbered.
3. Conducting closings and representing that mortgage documents were recorded when they were not.
4. Seeking later loans without disclosing existing private-lender mortgages on settlement statements.
5. Arranging sales that caused financial institutions to fund loans based on those false statements.

He maintained various Driftwood escrow accounts in connection with the business [1].

The person who pleaded guilty

Michael Saracco, 40, Cocoa, Fla. Former attorney; owned Driftwood Title and All Florida Property Solutions. Pleaded guilty to three counts of wire fraud; sentencing Dec. 2, 2026 [1].

Red flags in title and private-lender deals

These are general warning signs, not claims about any lender in this case.

• A title or escrow agent who cannot show recorded mortgages after closing.
• Settlement statements that omit existing liens you know about.
• Pressure to fund quickly without independent title review.

What to do

• Verify recordings with the county clerk.
• Report title or escrow fraud to your state insurance regulator and the FBI at ic3.gov.
• File a bar complaint if a lawyer is involved.

Case status (as of Nov. 6, 2026)

Defendant	Court	Status	Source
Michael Saracco, 40, Cocoa, Fla. (Driftwood Title; All Florida Property Solutions)	U.S. District Court, M.D. Fla. (docket not stated)	Pleaded guilty to 3 counts of wire fraud; sentencing Dec. 2, 2026	[1]

A guilty plea is not a sentence. Statuses can change, including through appeal.

Sources

1. U.S. Attorney's Office, Middle District of Florida, "Former Attorney Pleads Guilty in Real Estate Fraud Scheme," Sept. 14, 2026. https://www.justice.gov/usao-mdfl/pr/former-attorney-pleads-guilty-real-estate-fraud-scheme