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Woman Sentenced in $4.7-Million NJ Mortgage Fraud

Federal prosecutors say an Oklahoma woman who admitted running a mortgage fraud scheme in New Jersey that generated $4.7 million in fraudulent loans has been sentenced to four years in prison.

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Chris Ryan, Getty Images

Thirty-six-year-old Taya Romano of Edmond will also have to serve three years of supervised release once she’s freed from prison and make restitution.

A former resident of Ridgewood, Romano pleaded guilty in January 2011 to a federal charge of mail fraud affecting a financial institution.

Prosecutors say that between 2008 and 2009, Romano conspired with her then-husband to solicit and obtain money from two sets of family friends in New Jersey. They say Romano told investors their money would be used to buy apartment complexes and undeveloped land in Oklahoma.

 

(Copyright 2013 by The Associated Press. All Rights Reserved.)

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