Archives For New Jersey

Timothy Ricks, 47, East Orange, New Jersey, was sentenced to 84 months in prison for conspiring to defraud financial institutions and launder stolen funds as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos.

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Ania Nowak, 48, Belvidere, New Jersey, a former real estate title agent was sentenced to 66 months in prison for carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million, on two properties located in Wood-Ridge, New Jersey and Belvidere, New Jersey.

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Kinard Henson, 43, Ventress, Alabama, was sentenced to 210 months in prison for conspiring to defraud financial institutions and launder stolen funds as part of a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos.

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Abbe Edelman, 51, Livingston, New Jersey, was sentenced to 135 months in prison for running a real estate investment scheme that bilked victims out of more than $5 million.

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Ania Nowak, 48, Belvidere, New Jersey, a former real estate title agent, admitted carrying out a mortgage fraud scheme in which she obtained seven loans, totaling more than $3.7 million, on two properties located in Wood-Ridge, New Jersey and Belvidere, New Jersey.

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11 people, as well as a closing attorney, have been indicted on charges that they allegedly conspired to steal nearly $1 million from lenders through a short-sale mortgage fraud scheme.

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Douglas Green, 50, Boca Raton, Florida, a former collateralized mortgage obligation bond trader was sentenced to 30 months in prison for engaging in a fraudulent trading scheme in which he manipulated the prices of CMOs by millions of dollars over a period of four years.

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Andrew Constantinou, 58, Unionville, Connecticut, a former loan officer at GMAC Mortgage and Countrywide Home Loans, was sentenced to 60 months in prison for his role in a mortgage fraud scheme arising from the purchases of more than 40 properties in New Haven, Connecticut.

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Abbe Edelman, 50, Livingston, New Jersey, admitted his role in a real estate investment scheme that bilked victims out of more than $5 million. Edelman falsely claimed that he had long-standing relationships with banks that provided him unique access to purchase foreclosed properties below market prices and could guarantee an easy resale and profit for investors.

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Alex Schleider, 49, Lakewood, New Jersey, man was sentenced to one year and one day in prison for his part in a real estate investment fraud scheme that defrauded real estate investors of more than $1 million by persuading them to fund the purported purchase of an apartment complex, Belle Glade Gardens.

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