Former Miami affordable-housing developers to plead guilty to stealing millions

Two former top executives of the state's biggest affordable-housing development company plan to plead guilty on Sept. 22 to federal charges of conspiring with others to steal $36 million in government subsidies for low-income apartment projects in Miami-Dade County.

Matthew Greer, 37, one-time chief executive officer of Miami-based Carlisle Development Group, and Lloyd Boggio, 69, the company's co-founder, were scheduled to consummate their plea agreements on Friday.

But the plea hearing was delayed as their defense attorneys continue to negotiate the terms of their cooperation deals with the U.S. attorney's office.

Both men, accused of padding the construction costs of affordable-housing projects meant for the poor and receiving more than $26 million in kickbacks from South Florida contractors, face up to 10 years in prison.

Five other developers and contractors charged in the high-profile case have pleaded guilty, including the co-founders of Biscayne Housing Group, Michael Cox and Gonzalo DeRamon, on Monday.

This story was originally published September 4, 2015 at 2:44 PM with the headline "Former Miami affordable-housing developers to plead guilty to stealing millions."