.

Wayne Woman Gets 46 Months for Mortgage Fraud Scam

Sandra Mainardi, 52, was one of six co-conspirators who were sentenced last week.

A Wayne woman has been sentenced to 46 months in jail for her role in a mortgage fraud ring that scammed New Jersey residents out of about $1 million, U.S. Attorney Paul J. Fishman announced in a release Friday.

Sandra Mainardi, 52, pleaded guilty in Florida federal court to one count of wire fraud.

According to Fishman’s statement, Mainardi and other co-conspirators, including Daniel Verdia, 54, of Mahwah, filed false and fraudulent loan applications in real estate transactions. The applications listed the borrowers incomes at inflated rates. After they were approved, the schemers then prepared false statements saying the borrowers had made down payments or paid cash to close the loans.

The operation issued fraudulent mortgages for properties in both New Jersey and Florida.

In March, Crystal Paling, 52, of Sussex, who acted as the closing agent on the fake deals, was found guilty of conspiracy to commit wire fraud and conspiracy to commit money laundering.

Verdia and Jaye Miller, 62, of Pocono Lake, Pa., another accomplice, owned a shell company, Capital Investment Strategies, the release said. Paling wired the loan proceeds to a Capital Investment Strategies bank account.

Paling was sentenced last week to 37 months in prison, three years of supervised release and must pay more than $532,000 in restitution, Fishman said in the release.

Miller was sentenced to six months in prison, the release said.

Other accomplices Donald Apolito, 40, of Elmwood Park, and Robert Gorman, 64, of Long Valley pleaded guilty to related charges and were sentenced to five and two years of probation, respectively, Fishman said.

According to a NorthJersey.com report from 2009, the scheme, which the six people ran during the mid-2000’s, cost victims $1 million. The report said the shell company was based, for some time, in Mahwah.

— Have a question or news tip? Contact editor Daniel Hubbard at Daniel.Hubbard@patch.com or find us on Facebook and Twitter. For news straight to your inbox, sign up for our daily newsletter.

jiushini xiaohui123 November 15, 2012 at 09:33 AM
http://www.coachfactoryoutletonlinebc.org Coach Outlet http://www.coachoutletod.com Coach Outlet Store Online http://www.coachfactoryoutletbo.net Coach Factory Online http://www.coachoutletpn.com Coach Outlet http://www.coachfactorystoredo.com Coach Purse Outlet Online http://www.coachoutletos.org Coach Outlet Online http://www.coachoutletstorefb.com Coach Bags Outlet Online http://www.coachoutletstoreonlinert.com Coach Handbags Outlet http://www.coachoutletonlinelc.net Coach Outlet Factory http://www.coachoutletonlinelon.com Coach Factory Outlet http://www.coachoutletonlinelsa.com Coach Factory Outlet http://www.coachoutletdt.net Coach Factory Store http://www.coachoutletonlinebd.com Coach Outlet Online http://www.coachoutletstoreps.com Coach Outlet Store Online

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something