The long arm of the law grabs 2 mortgage swindlers

New Jersey’s Attorney General Paula T. Dow and Criminal Justice Director Stephen J. Taylor announced yesterday “that a Union County mortgage loan solicitor has been charged with conspiring with others – including a Kearny woman who was charged previously – in a scheme to steal millions of dollars by obtaining mortgage loans using false identities and counterfeit documents.”

Nuno J. Sousa, 34, of Elizabeth, was arrested yesterday.  He joins Genilza R. Nunes who was arrested in March.

“The state investigation determined that Nunes, Sousa and a number of co-conspirators allegedly were involved in a sophisticated, multi-million dollar mortgage loan fraud scheme operating in northern New Jersey, including Morris, Somerset, Hudson, Union, Passaic and Essex Counties. The state has specifically alleged that Nunes and Sousa – with Sousa acting as the mortgage loan solicitor – engaged in fraudulent transactions involving five properties, with a total fraud of $2,152,800. However, it is believed that the scheme is much larger.”

We write about these arrests and hoped-for prosecutions not out of any sense of glee but to demonstrate that the real estate market collapse did not result just from the shenanigans of big Wall Street firms but also from thefts and frauds of the kind allegedly pulled-off by these defendants.  If the alleged scheme is part of a larger one, I can’t wait to see the rest.

You can read the Attorney General’s press release here.

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if you have questions about what you see here, contact 

Stephen M. Flatow 

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