Homeowners in distress came to closings at a Holmdel Village office to be rescued from foreclosure, but actually would up signing away their homes.
- BUSINESS
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Thursday, November 29, 2012
An Old Bridge, N.J., man admitted Wednesday to his part in a phony foreclosure rescue scheme that was part of a $4.4 million mortgage fraud, U.S. Attorney Paul J.Fishman announced in a press release. Frederick “Freddie” Grippo, 32, of Old Bridge, N.J., formerly a loan officer at Worldwide Financial Resources and an officer of Vanick Holdings, pleaded guilty before in Newark federal court to one count of conspiracy to commit wire fraud. According to documents filed in this case and statements made in court, between January 2008 and February 2010, a co-conspirator of Grippo, his father Vito Grippo, was the president of Morgan Financial Equity Shares and Vanick Holdings, located at 22 South Holmdel Road in Holmdel, N.J. Morgan Financial …
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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
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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…
