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Economic Crimes

Police & Fire
Ex-Hoboken Publishing Company Exec From Union County Busted By FBI Admits Embezzling $48M Ex-Hoboken Publishing Company Exec From Union County Busted By FBI Admits Embezzling $48M
Ex-Hoboken Publishing Company Exec From Union County Busted By FBI Admits Embezzling $48M Caught by the FBI, a former Hoboken publication company executive who lives in Scotch Plains struck a plea deal with the government, admitting in federal court in Newark that he embezzled $48 million. In exchange for consideration at his sentencing, Nestor Charriez, 60, pleaded guilty Monday in U.S. District Court to defrauding Harrison Scott Publications by embezzling the money for his personal use. Harrison Scott produces newsletters about real estate, hedge funds, commercial mortgages and other business-related topics. Charriez worked as a controller for the company for several yea…

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by Jerry DeMarco
Police & Fire
Park Ridge Dad, Upper Saddle River Son Sentenced To Federal Time For Mortgage Scam Park Ridge Dad, Upper Saddle River Son Sentenced To Federal Time For Mortgage Scam
Park Ridge Dad, Upper Saddle River Son Sentenced To Federal Time For Mortgage Scam A Park Ridge man was sentenced Thursday to 27 months in federal prison and his Upper Saddle River son to home confinement for eight months for defrauding mortgage lenders out of more than $300,000. George Bussanich Sr., 60, and George Bussanich Jr., 39, used most of the money to buy high-end luxury vehicles, U.S. Attorney Craig Carpenito said. Both men previously admitted in U.S. District Court in Newark that they used sham short sales of two properties -- one on Jefferson Avenue in Emerson, the other on Lillian Street in Park Ridge – to swindle mortgage lenders between 2009 and 2012. The …

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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