Michael R. Figler, 30, Andover, Ohio.
All of the defendants are charged with conspiracy (2nd degree). Domash, Bauer, Bellotti and the two companies are each charged with seven counts of theft by deception (2nd degree) in connection with seven mortgage loans totaling $2,671,400 that were allegedly obtained by fraud. Hernandez is charged with two counts of theft by deception (2nd degree) related to two of the loans, and Felton and Figler are each charged with one count of theft by deception (2nd degree).
It is alleged that the defendants falsified information about employment, earnings and bank account balances on mortgage loan applications so that home buyers could obtain loans for which they were not qualified. They also allegedly falsified U.S. Department of Housing and Urban Development (HUD) settlement forms.
The indictment alleges that the defendants submitted fraudulent loan applications and HUD documents between April 2006 and June 2007 to obtain mortgage loans in the following amounts for seven homes in the following locations: Hillsborough ($540,000), Plainfield ($342,000), Marlboro ($339,150), Keansburg ($351,500), Asbury Park ($384,750), Asbury Park ($374,000), and Newark ($340,000).
Domash would find homeowners who were eager to sell, and then convince buyers to invest in the homes as income properties through his company. Domash allegedly had buyers sign blank loan applications, so he could falsify their personal financial information. Bellotti allegedly handled the closings for the home sales, performing separate closings with the buyers and sellers. All of the applications were processed through Bauer at Mortgage Loan Solutions.
The defendants allegedly inflated the sales prices for the properties and took out huge fees at closing from the loan proceeds. All of the homes ultimately fell into foreclosure, and some purchasers had their credit ruined.
In connection with the Newark property, Domash, Bauer, Bellotti, Figler and the two companies are charged with stealing the identity of a woman in order to use her name and identifying information to file the mortgage loan application and purchase the home. In addition to theft by deception, they are charged with second-degree identity theft and fourth-degree forgery in connection with that fraudulent transaction.
Second-degree crimes carry a maximum sentence of 10 years in state prison and a $150,000 fine, while fourth-degree crimes carry a maximum sentence of 18 months in state prison and a $10,000 fine. The indictment is merely an accusation and the defendants are presumed innocent until proven guilty.
The indictment was handed up to Superior Court Judge Linda R. Feinberg in Mercer County, who assigned the case to Monmouth County, where the defendants will be arraigned at a later date on the charges.
Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced the charges.
Deputy Attorney General Valerie A. Noto presented the case to the state grand jury. The investigation was conducted and coordinated for the Division of Criminal Justice Financial and Computer Crimes Bureau by Detective Kimberly Allen, Deputy Attorney General Noto, and Supervising Deputy Attorney General Terrence Hull, who is Bureau Chief.
Attorney General Dow and Director Taylor noted that the Division of Criminal Justice has established a toll-free tipline 1-866-TIPS-4CJ for the public to report corruption, financial fraud and other illegal activities. Additionally, the public can log on to the Division of Criminal Justice Web site at www.njdcj.org to report suspected wrongdoing. All information received through the Division of Criminal Justice tipline or Web page will remain confidential.
The indictment charging these defendants is as a result of an investigation by the Division of Criminal Justice Financial and Computer Crimes Bureau.
Btw I am the reason you are where you belong! Thank you nj ag for allowing me to help serve justice on these scum! This made itaitall worthwhile.
Scumbags…you tried to ruin my life! Pos I hope you rot!
These guys must be really good forgers for them to have been able to pass fraudulent documents to these lenders and how come the bank did not do some background check on the documents submitted to them?
For us investors it’s good to know that were investing in the right company with good services.Specially in condo unit or in other real state investments.