A suspect from out of state is accused of pulling off a chilling deed fraud scheme in New Jersey, allegedly transferring ownership of a Bergen County property from a deceased owner using a forged deed. Investigators say the suspect didn’t just take the property on paper, he allegedly used that stolen ownership to unlock major cash by taking out hundreds of thousands of dollars in loans tied to the home.
Authorities say the property was worth roughly $306,000, and the suspect allegedly stacked about $323,000 in loans on top of it, totaling more than $600,000 in fraudulent assets when combined. Prosecutors also allege the deed was improperly notarized, and another individual is accused of notarizing the document without properly confirming the signer was present. The case is a brutal reminder that deed theft isn’t just about “stealing a house”, it can be a fast track to draining equity and leaving victims in a legal nightmare.
This story was first posted on nj.com
