Christopher Ju, 26, of East Brunswick was allegedly involved in a mortgage scam.
Nine people, including an East Brunswick man, that were involved in a long-running, large-scale mortgage fraud scheme that caused losses of approximately $10 million were charged in two Complaints with conspiracy to commit bank fraud, U.S. Attorney Paul J. Fishman announced, Thursday. Jose Luis Salguero Bedoya, also known as Jose Salguero, 36, of Elizabeth and Verona; Paul Chemidlin, Jr., 41, of Morganville; Delio Coutinho, 50, of Colonia; Joseph DiValli, 44, of Jackson; Christopher Ju, 26, of East Brunswick,; Carmine Fusco, 44, of East Hanover; Jose Martins, 31, of Newark, ; Yazmin Soto-Cruz, also known as Yazmin Soto, 32, of Elizabeth; and Kenneth Sweetman, 32, of Lyndhurst and Nutley, were arrested Thursday morning by FBI special agents…
Investigators say the father, of Jackson, allegedly promised to bail out homeowners from foreclosure but instead sold the homes to unwitting investors while conspiring with the son, of Old Bridge, to steal millions from lenders.
- POLICE & FIRE
Thursday, September 27, 2012
A father and son were charged today in an alleged scheme in which the father allegedly promised to rescue homeowners facing foreclosure, but instead sold their homes to investors and conspired with the son to steal $4.5 million from lenders by filing fraudulent mortgage applications in the investor's names, according to Attorney General Jeffrey Chiesa. Vito Grippo, 47, of Jackson and his son, Frederick Grippo, 32, of Old Bridge, were charged by a complaint summons with conspiracy and theft by deception. Vito Grippo was also charged with money laundering and theft by failure to make required disposition of property received, according to the Office of the Attorney General. All of the charges are in the second degree and are the result of an…