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Bank Fraud Conspiracy

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
Park Ridge Con Man Admits Cooking Up $300,000 Mortgage Scam With Upper Saddle River Son Park Ridge Con Man Admits Cooking Up $300,000 Mortgage Scam With Upper Saddle River Son
Park Ridge Con Man Admits Cooking Up $300,000 Mortgage Scam With Upper Saddle River Son A Park Ridge con man already facing state prison time admitted in federal court on Wednesday that he and his son defrauded mortgage lenders out of more than $300,000, using most of the money to buy high-end luxury vehicles. George Bussanich Sr., 60, cut a deal with the government through which he pleaded guilty to bank fraud conspiracy and tax evasion in exchange for consideration at his Sept. 25 sentencing in U.S. District Court in Newark. His son George Bussanich Jr., 39, of Upper Saddle River, is scheduled to be sentenced the same day for his October 2017 guilty plea to tax evasion. For…

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by Jerry DeMarco