On Aug. 21, the U.S. Attorney's Office for the District of New Jersey announced that two men were indicted on charges associated with an alleged real estate scheme. According to the documents filed in the case, the men were accused of fraudulently obtaining more than $3 million from 15 people.
One of the men, a 46-year-old resident of Glen Rock, was accused of having posed as an investor, developer and money lender beginning in 2009. A 52-year-old New York resident is said to have posed as an associate of the Glen Rock man. They allegedly received money from the investors in order to fund projects with which they were not involved or did not actually exist. The funding was obtained under the guise of financing projects that included the development of several businesses, a fraudulent ticket scam and the purchase and sale of a New Jersey real estate property. That money reportedly went towards illegal gambling and paying personal expenses.
The Glen Rock resident was indicted on five counts of wire fraud and one count of conspiracy to commit wire fraud. The other man faces one count of wire fraud and one count of conspiracy to commit wire fraud. According to the new source, the men could face fines of more than $6 million if convicted, which would be two times what they gained from their offenses.
If retained by clients facing similar charges, criminal defense attorneys seek to assist with mitigating the penalties they could face. If there is not substantial evidence that a defendant was involved in the scheme in which he or she is accused of participating, that person's lawyer may be able to obtain a verdict of not guilty in the case. Also, if there is evidence that the investigation into an accused person was not properly conducted, a criminal defense attorney may be able to have that client's case dismissed.
Source: FBI.gov, "Bergen County Man and Disbarred New York Attorney Indicted in Real Estate Investment Fraud Scheme ", August 21, 2014