Four NJ real estate pros arrested in $5 million fraud case

Four New Jersey housing industry professionals were arrested in New Jersey last week for perpetrating a $5 million mortgage scam.

Real estate investor Victor Santos, builder Arsenio Santos, real estate settlement attorney Fausto Simoes, and mortgage loan officer Raquel Casalinho were charged with conspiracy to commit bank fraud. According to the Department of Justice, between September of 2007 and November of 2008, the four co-conspirators and others fraudulently obtained mortgage loans with a total value of more than $5 million.

This excerpt from Mortgage Professional America.

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About Stacy Schnellhttps://buyandsellhomesnj.wordpress.comI am a Realtor Salesperson with Berkshire Hathaway - Fox and Roach Realtors & The Scott Sheppard Team in Vineland , New Jersey. Being a lifelong resident my roots are deeply invested in Cumberland County and the South Jersey area. I specialize in supporting all of my clients with the purchase or sale of residential homes in Cumberland , Gloucester , Salem and Atlantic Counties. My real estate background allows me to produce cutting edge techniques and has given me the knowledge needed to ensure a positive and even enjoyable experience. Along with my real estate background I also have experience in marketing technology and in the mortgage industry.