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In the following To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. New Jersey Attorney General Anne Milgram announced that she has filed a fraud law suit against Casey Properties, LLC which was filed in Superior Court in Passaic County, the state’s To view links in this forum your post count must be 10 or greater. Your post count is 0 momentarily. [2mb] charges Casey Properties, headquartered in Totowa, and defendants Martin and Seth Gendel with running a scheme that involved soliciting people to “invest” in urban properties from 2005 through mid-2008. Victims of the Gendels did not actually put up money, but rather agreed to have properties purchased in their names in return for a share of the income generated by sale of those properties.

The Gendels told victims, falsely, that they could not simply buy the properties themselves because New Jersey law limited the number of properties they could own. They assured victims Casey Properties would collect the rent, pay the mortgage and perform maintenance on houses purchased in their names. However, the houses were left to deteriorate, mortgage payments were not kept up and the properties ended up foreclosed on and abandoned. One victim, a retired school counselor living on a fixed income, was left with ruined credit and two abandoned properties -– one in Newark and one in Paterson — that were so damaged she was unable to sell them. Among other things, the defendants are accused of submitting phony mortgage applications to enable her to qualify for loans she would not have otherwise obtained, and of forging her signature on various documents.

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The defendants include
Seth and Martin Grendal who ran Casey Properties and Lee Alan, LLC
Francis T. “Frank” Memmo, of Medford, a mortgage solicitor for 1st Metropolitan Mortgage
Kelly Kotzker, of Evesham, a loan processorfor 1st Metropolitan Mortgage
Damien Figueroa of Oak Ridge, an attorney who acted as a closing agent for both Casey Properties and the Gendels’ victims
Edward Evans, of Fair Lawn, an attorney who also acted as a closing agent
Nicholas Manzi, of Totowa, an attorney who acted as a closing agent
Robert B. “Barry” McBriar, a real estate appraiser who surrendered his license in October 2008 in connection with the conduct charged in the lawsuit.

The Casey Properties lawsuit charges defendants with a “pattern of racketeering activity” as defined by the New Jersey civil RICO statute.
Included in the civil RICO count are such predicate acts as theft by deception, falsifying records and issuing false financial statements, as well as accepting commissions on phony mortgage loans, forging documents and collecting rent monies that were to go toward mortgage payments, but keeping the funds instead.
[Ed. note, the following properties are mentioned in the complaint:
335-337 S. 20th Street, Newark
33 North Bridge Street, Paterson
43 -45 Godwin Avenue, Paterson
205 South 11th Street, Newark
51 Victoria Avenue
429 4th Avenue, Newark
37 Princeton St., East Orange]
Other charges in the Casey Properties suit include violating the Consumer Fraud Act by making false promises and engaging in unconscionable commercial practices. The complaint also includes a charge of creating and maintaining a nuisance by operating a scheme that resulted in dozens of run-down and uninhabitable properties, including many damaged by fire and/or flooding.


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