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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…
Heroin, Illegal Firearms, $15K In Drug Money Seized From Six Men In Newark: Police
Several decks of heroin and six illegal firearms and more than $15,000 in drug money were seized from eight men in Newark, authorities announced.
The execution of a search warrant at a home in the East Ward led to the arrests of Justin White, 25, and Julio Rodriguez, 54, on Tuesday, April 26, Newark Public Safety Director Brian A. O’Hara said.
There, police confiscated an assault rifle, 12-gauge shotgun, .38-Special revolver, .357 Magnum revolver, .6MM BB gun, and multiple rounds of ammunition. Police also recovered 21 bricks and 41 glassine envelopes of suspected heroin, along wi…
Ulta Beauty To Close 19 Stores
Ulta Beauty announced plans to close 19 stores this year.
Shops slated to get the ax have not been announced, but the beauty supplies chain has shops across New Jersey that could be impacted.
Ulta Beauty top officials blamed COVID-19’s economic disruption as the reason for the cuts.
Even while it closes some stores, Ulta Beauty has plans to open 30 more. Efforts will be made to transfer employees from closed shops to new or already existing ones, the company said in a press release.
In New Jersey, Ulta has stores in Edgewater, Clifton, Maywood, Garfield, Cedar Knolls, Wayne, Montvale, L…
Mahwah-Based DressBarn Closing All 650 Stores
DressBarn, the women's clothing chain, is closing all 650 of its stores after being in business for nearly 60 years.
Parent company Ascena Retail Group based in Mahwah said it plans to focus on its more profitable brands, such as Ann Taylor and Lane Bryant.
DressBarn CFO Steven Taylor said the chain "has not been operating at an acceptable level of profitability in today’s retail environment.”
Dressbarn has locations in Bloomfield, Edgewater, Hackensack, Kearny, Paramus, Westwood, Clifton, Florham Park, Parsippany, Wayne, Succasunna, Rockaway, Watchung, Union and more.
The closures w…
