TAMPA - Three Tampa area men were indicted Tuesday for mortgage fraud.

United States Attorney Robert E. O'Neil announced the indictment of William "Ondra" Joel, 31, of Wesley Chapel, Maurice Vernon, 32, of Tampa and Elton Lassiter, 44, of Odessa with conspiracy, wire fraud and making false statements to a financial institution.

They each face a maximum penalty of 30 years in federal prison.

The three men allegedly conspired to commit mortgage fraud using Joel's Tampa business, Investor's Outlet Inc.

The business assisted clients with investing in residential real estate. According to the indictment, the men created false HUD settlement statements and deposited money into client's bank accounts to trick lenders into believing the borrowers had more money than they actually had.

The men, according to the indictment, also created false invoices from construction companies to make lenders believe work was done to homes when it was not.