Joann Smith, 47, and her boyfriend, Wayne Betha, 42, Ewing, New Jersey, who ran a real estate firm, pleaded guilty to stealing from home sellers by diverting proceeds from home sales, and also defrauding mortgage companies by falsifying the earnings of loan applicants.
Continue Reading...Archives For November 30, 1999
Adebowale Sheba, 41, Franklin Township, New Jersey, has pled guilty to mortgage fraud in connection with his use of an alias and false information to obtain a loan.
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Davionne Anderson, 41, Newark, New Jersey was indicted for allegedly stealing approximately $1.2 million from two mortgage lenders by using a stolen identity and false information to obtain two home loans, which he used to sell his home in Newark and acquire a luxury home in Georgia.
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David M. Connolly, Watchung, New Jersey, has been charged by The Securities and Exchange Commission with operating a Ponzi-like scheme involving a series of investment vehicles formed for the purported purpose of purchasing and managing rental apartment buildings in New Jersey and Pennsylvania.
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Jorge Abbud, 33, Dover, New Jersey, a former employee of a Parsippany, New Jersey mortgage lender who admitted taking $138,402 in illegitimate proceeds of multiple home sales as a result of a mortgage fraud scheme, was sentenced to 21 months in prison.
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Lucilene Guido, 33, Kearny, N.J., a real estate agent and former loan officer, was sentenced to 12 months in prison for her role in various mortgage fraud scams that collectively sought to defraud lenders out of more than $5.5 million and involved 17 New Jersey properties.
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Jorge Abbud, 33, Dover, N.J., a former employee of a Parsippany, N.J., mortgage lender admitted to taking $138,402 in illegitimate proceeds of multiple home sales as a result of a mortgage fraud scheme.
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Robert G. Cusic Jr., Millstone, N.J., a New Jersey mortgage broker, admitted in federal court that he conspired with a New Jersey attorney and others to extort victims out of money and real property by falsely stating they were the subjects of criminal investigations.
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Thirteen individuals, including an alleged member and an associate of the Lucchese organized crime family, are charged with racketeering and related offenses for fraud including making false statements in a loan application to secure a fraudulent mortgage.
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Michael Williams, 33, Jersey City, New Jersey, admitted his role in a $40.8 million mortgage fraud conspiracy, serving as a “straw buyer” to cause a lender to release more than $632,000 based on a fraudulent mortgage loan application
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