Bond set for Florida man accused of using fake name, fraudulent deeds to flip homes in NE Ohio

CLEVELAND - A $1.5 million bond was set for a Florida man accused of using a fake name and fraudulent deeds in flipping hundreds of homes in Cuyahoga County.

In court Thursday morning, the judge set a bond she said reflected the seriousness of the crimes alleged against Florida Real Estate mogul Blaine Murphy.

Although prosecutors wanted the court to detain Murphy in the state of Ohio, the judge said the court didn't have a right to dictate where he lives. However, she did set a court supervised release, electronic home detention and surrendered passports and all licenses in Murphy's possession.

Murphy is accused of using the alias Brice Peters III for eight years to run a corporation called Brice Peters Financial Corporation out of Nevada, in addition to using two other aliases.

Prosecutors said Murphy has operated on a magnitude of more than 300 or more houses per state, including Ohio. Many of the homes in Cuyahoga County are boarded up and considered blight in communities.

Murphy is also being charged with tampering with records and operating as an officer unlicensed. The state prosecutor’s office said Cleveland’s city housing court has tried more than a hundred times to serve Murphy, but he evaded the law and has the means to be a flight risk.

"They have been tracking and following this individual and trying to find him for eight years, he was found because the FBI found him not because he wanted to be found, so there's a serious issue with regard to flight," the prosecutor explained.