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Federal Finance Housing Agency Office of Inspector General

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Ridgefield Park Man Gets House Arrest For $495,000 'Shotgun' Real Estate Scheme Ridgefield Park Man Gets House Arrest For $495,000 'Shotgun' Real Estate Scheme
Ridgefield Park Man Gets House Arrest For $495,000 'Shotgun' Real Estate Scheme A Ridgefield Park man was sentenced Thursday to three years of supervised release, including one year of house arrest for using bogus information and simultaneous loan applications at various banks to fraudulently obtain home equity lines of credit -- a practice known as “shotgunning.” Rafael Popoteur, 65, admitted in federal court in Newark in June 2017 that he conspired with real estate broker Michael Arroyo, 60, of the Bronx, who was sentenced Thursday to 21 months in federal prison. From 2012 through January 2014, Arroyo and others conspired to fraudulently obtain multiple home equity l…

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by Jerry DeMarco