$10M Mortgage Fraud Scheme Allegedly Linked to Verona Man
Township resident among nine defendants arrested by FBI agents Thursday morning.
A Verona man was among nine New Jersey residents charged in connection with an alleged mortgage fraud scheme that defrauded financial institutions of $10 million over several years, U.S. Attorney Paul J. Fishman announced Thursday. FBI agents arrested the defendants Thursday morning and charged them with one count each of conspiracy to commit bank fraud. Each defendant faces up to 30 years in prison and a fine of $1 million if convicted, according to a U.S. Attorney's Office news release. The defendants allegedly "engaged in multiple mortgage fraud conspiracies" involving more than 15 properties in and around Newark and Elizabeth from March 2008 to July 2012, authorities said. They are accused of taking control of properties through …
