Mortgage Fraudster Pleads Guilty in ‘Straw’ Borrower Scam

A New Jersey man has pleaded guilty to one count of conspiring to commit bank fraud in part of a mortgage scheme that allegedly involved hundreds of thousands of dollars. So reports

Federal prosecutors claimed that 54-year-old Dennys Tapia worked with unnamed co-conspirators, including a so-called straw borrower, to fraudulently obtain cash-out refinance and other mortgages.

Tapia faces up to 30 years in prison and a $1 million fine when he is sentenced, which is set for April 20, 2021.

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