S. Jersey Man Charged With Multiple Counts Of Theft By Deception, Misapplication Of Entrusted Property After Allegedly Pocketing $146K From Four Homeowners, Promising Phony Loan Modifications, Other Loan Assistance

In Burlington County, New Jersey, the Cinnaminson Patch reports:

• A Cherry Hill man who held himself out as a mortgage loan specialist has been charged with theft and other charges that he allegedly used $146,000 for personal expenses that had been paid to him by four Burlington County residents seeking loan assistance, authorities said on Wednesday.
  
  Mark L. Begley, 50, was charged with second degree theft by deception, two counts of third degree theft by deception, second degree misapplication of entrusted property, two counts of third degree misapplication of entrusted property, third degree filing a fraudulent or false income tax return, two counts of third degree failure to pay/remit taxes and third degree failure to file a return.
  
  He allegedly targeted four victims, including a Cinnaminson couple that gave him nearly $21,000; a couple in Edgewater Park that gave Begley More than $110,000; and two Maple Shade residents who paid Begley $15,100 for services that were never received.
  
  Begley was arrested [...] after a search warrant was executed at his home, according to Burlington County Prosecutor Robert D. Bernardi, Maple Shade Police Chief Gary Gubbei and Special Agent in Charge Charles Giblin of the New Jersey Department of Treasury, Office of Criminal Investigation.
  
  Begley allegedly claimed he was a mortgage loan specialist whose services included assistance with procuring reverse mortgages, mortgage refinancing and assorted loan modifications.
  
  Begley allegedly generated documents for his clients to sign in an effort to convince them that he was working with lenders and mortgage companies on their behalf.
  
  Instead, he allegedly pocketed the money that had been paid to him by clients for the purpose of securing mortgage and loan modifications.
  
  He would allegedly accept payment and indicate the funds would be placed in an escrow account pending the outcome of his negotiations with mortgage companies and lenders on behalf of the clients. The funds were never deposited into an escrow account. Instead, Begley allegedly took these entrusted funds and used them for his personal expenses.
  
  Begley also allegedly failed to file a personal income tax return in 2012, filed a false or fraudulent income tax return in 2011 and failed to pay personal income tax in 2011 and 2012.
  
  He was lodged in Burlington County Jail on $100,000 bail.

For the story, see Cherry Hill Man Defrauded Cinnaminson Couple, Others: Prosecutor (Mark Begley allegedly defrauded residents in Cinnaminson, Maple Shade and Edgewater Park).