Woman pleads guilty in $4.7M NJ mortgage fraud

[FreakinDJ]

Woman pleads guilty in $4.7M NJ mortgage fraud

A former New Jersey property developer has admitted running a mortgage fraud scheme that generated $4.7 million in fraudulent loans.

Taya Romano, a former resident of Ridgewood, pleaded guilty Tuesday in Trenton to a federal charge of mail fraud affecting a financial institution.

Prosecutors say the scheme involved 13 distressed properties she acquired to resell in Paterson and East Orange. She recruited buyers and secured loans for them using falsified bank statements and other documents.

http://www.businessweek.com/ap/financialnews/D9KHPEJG1.htm

Small Fish ...

[Uben]

1. We can't allow this

This woman needs her hand slapped and she needs to be fined hundreds of dollars, maybe even put on probation!




/sarcasm