NJ Couple Face State Charges In Alleged Foreclosure Investment Scam; Seven Bilked Out Of $1.2M, Says Prosecutor

In Monmouth County, New Jersey, The Star Ledger reports:

• A Long Branch husband and wife have been indicted on 26 counts of theft by deception, tax evasion and other charges in connection with a $1.2 million investment scam and other illegal activities, authorities said today. A Monmouth County grand jury returned the indictment Monday against Larry Kushner, 56, and his wife, Jacqueline Kushner, 43, Monmouth County Prosecutor Luis Valentin said.

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• An investigation by the prosecutor's office and state tax officials showed Larry Kushner bilked seven investors out of $1.2 million from 2000 through 2005, Valentin said. Larry Kushner told investors the money they invested in his company, Foreclosure 911, would be used to purchase foreclosed properties in New Jersey, Pennsylvania or Delaware, the prosecutor said. Instead, he used their money for personal expenses, including several trips for himself and his family to Florida and Israel. Jacqueline Kushner served as president of Foreclosure 911, and much of the stolen money was diverted directly to her, Valentin added.

For more, see:

• Long Branch couple indicted in $1.2M investment scam,
• Monmouth County Prosecutor press release - Long Branch Couple Indicted for Million Dollar Investment Scam and Tax Evasion.