TALLAHASSEE (AP) — Seven arrests have been made in connection with a $5 million mortgage fraud scheme in South Florida.

Attorney General Pam Bondi and the Miami-Dade Police Department made the announcement Thursday. The charges include organized fraud and grand theft and are punishable by a maximum of 30 years in prison and a $10,000 fine.

Authorities say the scheme operated with straw buyers who purchased numerous properties. Once the loan was secured and records reflected a price well over the actual price paid to the seller, a variety of financial exchanges would take place to make the purchase appear legitimate.

The laundered money would then go back to the closing agent’s escrow account.