Sewaren Man Charged In $7 Million Dollar Mortgage Fraud Scheme

NEWARK—A former mortgage broker and his purported co-conspirator in a mortgage fraud scheme were arrested Oct. 21 on a criminal complaint which alleges they conspired to defraud various mortgage lenders of more than $7 million by conducting at least 50 fraudulent real estate transactions involving residential properties in New Jersey, U.S. Attorney Paul J. Fishman announced.