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A former loan officer for an unnamed mortgage lender has pleaded guilty to a federal charge of conspiracy to commit bank fraud, according to U.S. Attorney Craig Carpenito. So reports The Monmouth Journal.
The fraudulent scheme against the unnamed Monmouth County, New Jersey, mortgage lender spanned 2015 to 2018 and caused hundreds of thousands of dollars in losses, according to prosecutors.
The maximum penalty for the charge is 30 years in prison and a $1 million fine.
