Six People Charged With Mortgage Fraud in New Jersey

Six people have been charged in three separate, unrelated mortgage fraud cases in New Jersey, including two women accused of spearheading a conspiracy to use stolen identities to obtain more than $1 million in unauthorized mortgages, lines of credit and credit cards. State prosecutors indicted Yi Feng Reid, Yu Jane Chen, George Liu and Ji Gang Chen, accusing them of scheming to use the identities of other people to obtain mortgages and other types of loans. In another unrelated indictment, commercial loan broker Ramon Coscolluela was charged with allegedly falsifying five loan applications submitted to Commerce Bank in 2007 and 2008 on behalf of clients who allegedly paid him fees ranging from $1,000 to $6,000. In a third mortgage fraud indictment, Terrance Givens was charged with allegedly lying about his income and employment history on a mortgage application in 2005. The six defendants were unavailable for comment.