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New Jersey Man Arrested for Running Foreclosure Rescue and Real Estate Ponzi Schemes

Randy Poulson, 42, Woolwich Township, New Jersey, the owner and operator of Equity Capital Investments LLC, is charged with allegedly scamming distressed homeowners into giving him their houses and then soliciting fake real estate investments from private investors, secured by those same properties, that netted him more than $3 million in illicit profits. The defendant […]

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New Jersey Man Arrested In Multi-Million Dollar Real Estate Investment Fraud Scheme

Abbe Edelman, 50, Livingston, New Jersey, was arrested at his home by federal law enforcement officers on charges that he allegedly ran a real estate investment scheme that bilked victims out of $4 million. The defendant is charged by complaint with six counts of wire fraud. He is scheduled to make his initial court appearance […]

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US Supreme Court Rules on Mortgage Fraud Restitution Calculations

WASHINGTON (AP) — The U.S. Supreme Court has clarified how restitution must be computed in mortgage fraud cases. The justices in a unanimous decision Monday said that restitution to a bank that has been defrauded must be calculated based on the value of property when it is actually sold, and not the earlier date on […]

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Former New Jersey Loan Officer Admits Role in Mortgage Fraud Scheme

A Colonia man admitted his role in a large-scale mortgage fraud scheme that caused millions of dollars in losses, U.S. Attorney Paul J. Fishman said in a news release Tuesday. Delio Coutinho, 71, pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark federal court to conspiracy to commit wire fraud, the release said. […]

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New Jersey Mother and Daughter Arrested for Scamming Homeowners

Anna S. Lee, 54, Englewood Cliffs, New Jersey, and her daughter, Jennifer H. Lee, 25, New York City, New York, were arrested on Monday, April 14, 2014, in connection with an alleged real estate loan scam wherein the defendants fraudulently obtained over $300,000 in payments from victims for loan modifications services. The investigation revealed that Anna Lee represented […]

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Six Individuals Charged with Short Sale Fraud in New Jersey

Ki Sung Chung aka Ken Jung, 55, Norwood, New Jersey,Soon Hwa Park–Bergman, 53, Norwood, Ki Jung Yun, 51, Fairview, New Jersey, Hyang Son Yi aka Paula Yi, 56, Fairview, Dennis Oak aka Dae Sok Ok, 73, formerly of Palisades Park, New Jersey, currently a fugitive, and Beverly Oak aka Young Ae Oak, 63, formerly of Palisades Park, also a […]

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