Mt. Laurel man charged in $1.7M real estate fraud
A Mount Laurel man who had been a settlement agent at real estate closings has been charged with keeping more than $1 million that was intended for mortgage and tax payments, according to the U.S. Attorney's Office in Philadelphia.
Jason Bloom, 39, was charged in a one-count information, which is considered to be the prelude to a guilty plea.
He is accused of keeping about $1,730,800 that, from at least March 2004 through January 2008, was provided at real estate sales and refinancings to pay off existing mortgages, make tax payments due to Philadelphia, and refund overpayments of closing costs to homeowners.
Bloom could be sentenced to 30 years in prison and fined $1 million, said U.S. Attorney Michael L. Levy in announcing the case last Thursday.
The case was investigated by the FBI and the U.S. Postal Inspection Service, along with the Philadelphia Office of Inspector General.
