Ex-lawyer pleads guilty in $40.8M mortgage scheme

Set Text Size SmallSet Text Size MediumSet Text Size LargeSet Text Size X-Large
Share
Updated: 7/07 4:02 pm

CAMDEN, N.J. (AP) — A former lawyer in New Jersey has admitted taking part in a $40.8 million mortgage scheme that operated in three states.

Joseph Witkowski of Flemington pleaded guilty Monday to conspiracy to commit wire fraud and conspiracy to commit money laundering. He faces up to 40 years in federal prison when he's sentenced Nov. 14.

Prosecutors say the 68-year-old Witkowski and other conspirators used phony documents and "straw buyers" to make illegal profits on overbuilt condominiums at the Jersey shore and at resorts in South Carolina and Georgia. They recruited buyers with good credit scores and little money, then created false documents to help the buyers get loans.

The conspirators then took a portion of the proceeds after the loans closed.

Ten other people have pleaded guilty in the conspiracy.

 

©2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Share
0 Comment(s)
Comments: Show | Hide

Here are the most recent story comments.View All

No comments yet!
Featured Partners
www.eastridgeretirementcenter.com
The newly modeled East Ridge Residence is a must see with its spacious comfortable apartments. Plus, 3 delicious meals daily, geriatric physician, home healthcare services and fun festive activities. Schedule your visit today!
www.ameripriseadvisors.com/james.m.scotchie
Together we can make a confident retirement possible. Simply click to get started with your private wealth advisor. Talk to Jimmy Scotchie, Certified Financial Planner.
www.comcast.com/cable-internet-packages.html
Get started at $79.99 a month for 12 months. Plus, get a $75 VISA® Prepaid card.
 
Supermarket Guru
From The Archives
Scenic City Roots
Through Irish Eyes
Brand News
Prime Mashup
What's Trending
Megan Wise Goes Outside
Stay Connected with WDEF News 12
 
Inergize Digital This site is hosted and managed by Inergize Digital.