Request Legal Help Now - Free


Two New Jersey Men Convicted in Lawsuits Related to Mortgage Scams

. By
Newark, NJResidents of the Garden State can rest a bit easier, as a federal court has convicted two New Jersey men on charges related to a multi-million mortgage and property flipping scam involving homes in the city of Paterson.

The two men, representing a larger group of unnamed coconspirators, allegedly defrauded investors of millions of dollars in mortgage loans for unqualified borrowers from 2002-2005 by selling two- and three-family houses at inflated prices.

Following a six-week trial, a Newark jury found the two men guilty of multiple charges, including wire fraud and money laundering. Both men face between five and eight years in prison, though the Associated Press claims that the federal government is expected to argue for longer sentences.

The charges come at a time when the housing crisis has left many prospective home-owners in a desperate financial state, adding an emotional resonance to the case.

Thus far, federal investigations into mortgage fraud have led to more than a dozen convictions in New Jersey alone.


Fraud Legal Help

If you or a loved one have suffered losses in this case, please click the link below and your complaint will be sent to a financial lawyer who may evaluate your Fraud claim at no cost or obligation.


Fields marked * are mandatory. Please read our comment guidelines before posting.


Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.

Click to learn more about

Request Legal Help Now! - Free