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North Jersey Mother and Daughter Indicted On Fraud and Money Laundering

By Lependorf & Silverstein

A mother and daughter from New Jersey have been indicted in a mortgage fraud and money-laundering scheme. Cape May County Herald reports the two women were arrested in June of last year. The women allegedly bought condos by lying about their finances and employers to obtain mortgages. The 29-year-old daughter and the 45-year-old mother were indicted on 10 charges. They were charged with one count of conspiracy to commit wire fraud and two counts each of wire fraud, one count conspiracy to commit money laundering and two counts each of money laundering exceeding $10,000. Money laundering is a serious white-collar crime that carries with it great penalties. A conviction can result in significant jail time and heavy fines. In addition to the court penalties, a convicted white-collar criminal may face a lifetime of difficulties...continue to full post

Full post as published by New Jersey Criminal Defense Blog on April 27, 2010 (boomark / email).