SECURITIES AND EXCHANGE COMMISSION v. NJ AFFORDABLE HOMES CORP. et al

  1. May 16, 2007

    SEC Adds Defendant In NJ Affordable Case

    The $40 million Ponzi scheme scandal that felled NJ Affordable Homes Corp. widened on Monday, with the U.S. Securities and Exchange Commission adding a defendant to its fraud case against the bankrupt real estate company.

  2. November 01, 2006

    Real Estate Worker Admits Guilt In $40M Scheme

    A former account manager at bankrupt real estate company NJ Affordable Homes Corp. has pled guilty to submitting fake loan documents in a bid to help the beleaguered company obtain mortgages as part of a Ponzi scheme that netted more than $40 million from investors.

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