11 Arrested And Charged For $15 Million Mortgage Fraud Scheme
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CAMDEN, N. J. (CBS) – Eleven people from five states have been charged for allegedly taking part in a $15 million mortgage fraud scam.
This scam reportedly used phony documents to make illegal profits on overbuilt condos and involved a defendant who tried to murder a witness.
The suspects allegedly made false documents and convinced lenders to give straw buyers $15 million for properties that were worth much less.
All suspects have been charged with conspiracy to commit wire fraud, with five others being charged with conspiracy to commit money laundering and one suspect being charged with attempted murder.
Authorities have identified the following from the Delaware Valley:
Sean A. Souels, 42, of Philadelpha, Pa.;
Nancy E. Wolf-Fels, 55, of Toms River, N. J.;
Deborah L. Hanson, 49, of Voorhees, N. J.; and
Seth A. Fuscellaro, 39, of Wildwood Crest, N. J.
All Delaware Valley suspects have only been charged with conspiracy to commit wire fraud.