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Raymundo Torres

Police & Fire
Feds: Wayne Woman Admits Doctoring Apps In $4 Million Bank Loan Swindle Feds: Wayne Woman Admits Doctoring Apps In $4 Million Bank Loan Swindle
Feds: Wayne Woman Admits Doctoring Apps In $4 Million Bank Loan Swindle A Wayne woman admitted in federal court in Newark that she helped produce bogus documents that conned banks out of $4 million in loans, authorities said. Gladys Collins, 43, was among a group of conspirators at Cash Flow Partners LLC, a business consulting firm with offices in New York and New Jersey, who attracted loan applicants through online ads and seminars, U.S. Attorney Craig Carpenito said. The crew then ginned up applications for loans, some insured by the FDIC, to make their customers “appear more financially viable than they actually were,” Carpenito said. Collins accepted a dea…

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by Jerry DeMarco
Police & Fire
Feds: Bergen-Based Debt Reliever From Wayne Scams Victims Out Of $5 Million Feds: Bergen-Based Debt Reliever From Wayne Scams Victims Out Of $5 Million
Feds: Bergen-Based Debt Reliever From Wayne Scams Victims Out Of $5 Million The founder of a Saddle Brook lending company promised to help desperate, low-income customers pay off crushing loans, then pushed them even further into debt, pocketing more than $5 million, said federal authorities who arrested him. Edward Espinal, 44, of Wayne advertised his Cash Flow company on YouTube, other social media and Spanish-language TV, sometimes using the Venezuelan telenovela actor Víctor Cámara, U.S. Attorney Craig Carpenito said. Espinal, who was the company’s founder and CEO, ran a couple of scams beginning 3½ years ago and ending with his arrest by federal agents earlie…

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by Jerry DeMarco
Police & Fire
Feds Charge Englewood Business Consultant In $4 Million Bank Loan Fraud Feds Charge Englewood Business Consultant In $4 Million Bank Loan Fraud
Feds Charge Englewood Business Consultant In $4 Million Bank Loan Fraud An Englewood business consultant directed employees to pose as applicants, list fake jobs and artificially boost income information as part of a widespread conspiracy to illegally secure more than $4 million in bank loans, federal authorities charged. As funding director for Cash Flow Partners, a business consulting firm in Saddle Brook, Jennie Frias, 36, had employees “pose as loan applicants when communicating with the victim banks,” U.S. Attorney Craig Carpenito said Friday. Cash Flow published online ads and held seminars offering customers help in obtaining FDIC-insured bank loans, Car…

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by Jerry DeMarco