May 16, 2007
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.
November 01, 2006
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.