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Ex-Hudson Sheriff's Officer Admits $98,000 Short-Sale Mortgage Scheme For Jersey Shore Home
A former Hudson County sheriff’s officer admitted defrauding a bank to duck $98,000 in mortgage payments on a Jersey Shore home, federal authorities said.
Osbado Hernandez, 54, of Avenel, conspired with others to lie about a bogus short sale of his house in Keansburg so that the unidentified bank would discharge what was left on his mortgage, U.S. Attorney Philip R. Sellinger said.
Hernandez bought the property for $239,900 in 2006, financing it through a mortgage loan from the victimized bank, a complaint on file in U.S. District Court in Trenton says.
He ended up behind on the payments,…
Mortgage Fraud: NJ Developer, Attorney Admit Swindling Lenders Out Of $3.5M
A New Jersey real estate developer and a lawyer admitted running a multi-layered mortgage fraud that cost banks more than $3.5 million in losses, federal authorities said.
Developer Victor Santos, 63, of Watchung, paid stand-in "straw" buyers $5,000 each to first purchase a dozen properties in Newark and then secure tenants to lease them, U.S. Attorney Philip R. Sellinger said.
A group of conspirators including him and attorney Fausto Simoes, 69, of Millington, covered the costs -- including fees and mortgage payments, the U.S. attorney said.
"Santos, Simoes, and others also caused the sub…
Hackensack Dad, Son Charged With Securing $400G Mortgage With Maywood Resident's Stolen ID
A Hackensack father and son were charged in a sophisticated scheme using a stolen Maywood resident’s identity to secure a $400,000 mortgage loan.
Leonard Gueye, 58, and his son Eustace, 28, who live together on Anderson Street, are charged with theft, money laundering, forgery and wrongful impersonation, among other counts.
Leonard “obtained the personal identifying information of the victim” from a previous real estate deal, Bergen County Prosecutor Mark Musella said.
Using that information, the elder Gueye produced bogus bank statements and W-2 forms, as well as a notarized power of atto…
10 Charged In NJ Mortgage Fraud Scheme That Swindled Low Income Buyers Out Of Thousands
Ten people including two at large have been charged in a mortgage fraud scheme that included racketeering, theft, tampering with records and money laundering across Essex County, authorities said.
Between 2016 and 2019, the individuals recruited unsuspecting buyers for investment properties in Newark, East Orange, and Irvington, Acting Essex County Prosecutor Theodore N. Stephens, II said Friday.
With little to no down payment and questionable financial stability, the buyers were led to entrust the entire mortgage application process to Darnell Alford, of Toms River, and Travis Glover…
