Items Tagged with 'New Jersey'

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Ex-NJ mayor sent to prison for kickbacks involving HUD funds

Low-income housing developers provided money to Passaic mayor Alex Blanco
The former mayor of Passaic, New Jersey will spend the next two years in prison after being convicted of soliciting and accepting bribes from developers who wanted to build low-income housing in the city. According to the U.S. Attorney’s Office for the District of New Jersey, Alex Blanco accepted $110,000 in corrupt payments, much of which was money from the Department of Housing and Urban Development.
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Did Wells Fargo fake accounts extend to Prudential insurance?

Investigation launched after whistleblower lawsuit filed
Investigators in California and New Jersey are set to launch a probe into Wells Fargo over whether the bank’s recent fake account scandal extended beyond credit cards and bank accounts. The investigations come on the heels of whistleblower lawsuit filed by three former Prudential Insurance employees, who accused Wells Fargo of opening up insurance policies and automatically deducting the insurance premiums from customers’ accounts without prior authorization.
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Former New Jersey councilman gets 5 years for $13 million mortgage fraud

Used phony documents and straw buyers to buy condos
A former councilman and failed mayoral candidate for the city of Kearney, New Jersey, will spend the next five years in prison after pleading guilty for his role in a $13 million mortgage fraud scam that involved using straw buyers to buy condominiums from financially distressed developers.
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Senators demand answers on New Jersey zombie foreclosure crisis

Booker, Menendez seek resolution to abandoned property outbreak
According to a recent report from RealtyTrac, the state of New Jersey has more zombie foreclosures than any other, and now, the state’s two senators are asking why the problem is so bad and what federal regulators are going to do about it.
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