Archives For New Jersey

Antonio Pimenta, 47, Neshanic Station, New Jersey, admitted his role in a scheme that used straw buyers and phony loan documents to fraudulently obtain a $400,500 loan on a property in Irvington, New Jersey.

According to documents filed and statements made in court: Pimenta owned and managed Kelmar Construction Co. Kelmar built multiple properties in Irvington, New Jersey. These properties were sold to straw buyers utilizing fraudulent mortgage loans brokered by loan officer, Klary Arcentales, 47, Lyndhurst, New Jersey, and closed by settlement agent Linda Cohen, 57, Orange, New Jersey, who used fraudulent settlement statements to hide the true sources and destinations of the mortgage funds. The straw buyers had no means of paying the mortgages, and many of the properties entered into foreclosure proceedings. Continue Reading…

Silver Buckman, 37, Cherry Hill, New Jersey, her parents, Vincent Foxworth, 70, Turnersville, New Jersey and Cynthia Foxworth, 64, Turnersville, New Jersey, were convicted by a federal jury for a mortgage fraud scheme that stripped the equity from the homes of desperate homeowners facing foreclosure.  The three were found guilty of bank fraud, wire fraud, and conspiracy to commit bank fraud and wire fraud. Their scheme caused losses to mortgage lenders of approximately $3.8 million.

The defendants offered to help financially-vulnerable individuals save their homes from foreclosure or obtain money from the equity in their homes but, instead, defrauded the homeowners and mortgage lenders. Buckman owned and operated Fresh Start Financial Services (“FSFS”), in Mount Laurel, New Jersey and was an employee of American Home Lending as well as a mortgage broker for American One Mortgage (“AOM”). Her father is an experienced Realtor.

Between October 2006 and November 2009, Buckman and her co-defendants allegedly targeted financially vulnerable homeowners and represented to them that they could improve their credit, save their homes from foreclosure, or provide them with money through Buckman’s lease buyback program. The homeowners were told that “investors” would be used to temporarily refinance their homes and that they could repurchase the homes in one year, or once they regained their financial footing. The defendants also allegedly induced the homeowners into signing documents related to the sale and lease of their homes by their representations that the homeowners would remain on the title to their homes, that the equity from their homes would be placed into an individual escrow account in their names, and that new mortgages would be paid from the escrow accounts to establish their timely payment histories.

In order to carry out the scheme, Buckman recruited Vincent Foxworth and Cynthia Foxworth and others to be straw borrowers. Buckman submitted false financial and employment information about the straw borrowers to mortgage lenders. Once lenders agreed to fund the mortgage loans, Buckman prevented the homeowners from receiving the settlement proceeds and did not put money into escrow accounts for the homeowners. Instead, the defendants distributed the proceeds amongst themselves. Buckman used only a fraction of the homeowners’ monies toward the payment of the mortgages obtained by the straw borrowers for the homeowners’ homes and thereby caused the loans to go into default.

U.S. District Court Judge R. Barclay Surrick scheduled a sentencing hearing for January 29, 2016.The defendants each face a potential advisory sentencing guideline range of approximately 87 to 108 months in prison plus restitution.

The case was investigated by the Federal Bureau of Investigation, the United States Postal Inspection Service and IRS Criminal Investigations. It is being prosecuted by Assistant United States Attorney Anita Eve.

Fryar’s next day in court to focus on financial restitution

Former NFL football star Irving Fryar just finished his first week in a New Jersey state prison after a bitter court battle led to a guilty verdict in a $1.2 million mortgage scam.

But his next big fight – his restitution – looms.

On Nov. 9 state Superior Court Judge Jeanne T. Covert will hold a hearing in Mount Holly to determine how much Fryar must pay to the banks that he and mortgage broker William Barksdale victimized in late 2009 and early 2010 with the assistance of Fryar’s mother.

‘RHONJ': Judge rejects Joe, Teresa Giudice’s foreclosure challenge on Montville mansion

Joe and Teresa Giudice’s gilded Montville Township mansion is almost as much a character on “Real Housewives of New Jersey” as the reality TV stars themselves — but for how much longer?

Joe and his four daughters continue to live in the mansion while Teresa is in federal prison, and they taped their three-part Bravo special “Real Housewives of New Jersey: Teresa Checks In” there. But a Superior Court judge in Morris County has rejected the couple’s attempt to contest foreclosure on the over-the-top home and granted summary judgment in favor of the mortgage holders, Community Bank of Bergen County

Ex-NFL Star Irving Fryar Sentenced to 5 Years in Prison in $1.2 Million Mortgage Fraud Case

Paul Mancuso, 49, Glen Rock, New Jersey, pled guilty in Newark, New Jersey, federal court to one count of conspiracy to commit wire fraud in connection with fraudulent investment schemes that defrauded 15 victims of more than $3 million.

According to documents filed in the case and statements made in court:

On August 21, 2014, a federal grand jury in Newark, New Jersey indicted Mancuso on one count of conspiracy to commit wire fraud and five counts of wire fraud. It also charged Pasquale Stiso, 53, West Harrison, New York, with one count of conspiracy to commit wire fraud and one count of wire fraud. Continue Reading…

Anika N. Greene, 42, Bronx, New York, was convicted by a federal jury on charges of conspiracy to commit bank and wire fraud, bank fraud, wire fraud, access device fraud and three counts of aggravated identity theft.

Green was charged in a superseding indicted on July 15, 2014. According to court records and evidence presented at trial, Greene and three other individuals, Jeffrey Washington, Alice Howard, and Catya J. Craig, burglarized Wells Fargo mortgage offices throughout New York, New Jersey, Connecticut and Maryland in 2012 and 2013. The defendants stole over 1,800 mortgage files that were then used in a variety of bank customer impersonation and retail credit fraud schemes, targeting various banks and retailers. Washington recruited individuals to go into banks, impersonate customers and remove funds via setting up business accounts and transferring funds from the accounts of bank customers. Washington and other defendants, including Greene, traveled from New York to the Eastern District of Virginia on multiple occasions throughout 2012 and 2013. Continue Reading…

Fryar, mother ask judge to overturn guilty verdicts

Alleging a “miscarriage of justice,” attorneys for former NFL star Irving Fryar and his mother are urging a judge to  either overturn a jury’s verdicts convicting the two in a $1.2 million mortgage fraud or grant a new trial.

Motions filed by the defense in Superior Court in Mount Holly late last week say the convictions came despite a lack of evidence and because of prosecutorial misconduct.

Delio Coutinho, 73, loan officer, Woodbridge, New Jersey was sentenced to 36 months in prison for his role in a large-scale short sale mortgage fraud scheme that caused millions of dollars in losses.  Coutinho previously pleaded guilty before U.S. District Judge Susan D. Wigenton to an information charging him with conspiracy to commit wire fraud.  Continue Reading…

Irving Fryar, a former player with the Philadelphia Eagles, and his 74 year old mother, Allene McGhee, were recently convicted in a mortgage fraud case after a federal jury trial. Fryar was interviewed by Vai Sikahema of NBC News after his conviction.

Part 1 of the Interview

Part 2 of the Interview

Part 3 of the Interview

Part 4 of the Interview