Father and son indicted in $2.5M Jersey Shore real estate investment scam

The father and son allegedly diverted investments to corporate entities and spent the money on personal expenses.

A man and his son have been indicted by a Grand Jury in a Jersey Shore real estate investment scheme that allegedly defrauded investors and lenders out of about $2.5 million.

Bussanich, Sr.’s daughter, Melanie Whitney, pleaded guilty in the case to theft by deception on March 7. Whitney did not tell investors and lenders about her father and brother’s involvement in the operation, according to the indictment. “These defendants allegedly defrauded investors and mortgage lenders for personal gain,” New Jersey Attorney General Matthew J. Platkin said. “We will remain steadfast in holding them accountable to deter these defendants and others from engaging in investment scams in New Jersey.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

njdotcom /  🏆 282. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Money spent replenishing Jersey Shore’s disappearing beaches to hit a record $3BThe amount of sand dumped onto N.J.'s beaches would fill the Las Vegas Sphere 101 times.
Read more »

Chicago police officer and suspect wounded in shooting in South ShoreChicago police officer and suspect wounded in shooting in South Shore
Read more »

Orsted wants out of $300M forfeiture for scrapped New Jersey offshore wind farmsOffshore wind power company Orsted is trying to get out of a $300 million guarantee it agreed to pay New Jersey in the event it failed to build its first wind…
Read more »

New Jersey Sen. Cory Booker interrupted by protesters demanding Gaza cease-firePro-Palestinian demonstrators calling for a cease-fire in Gaza interrupted Sen. Cory Booker, D-N.J., speaking before Election Day in his home state over the weekend.
Read more »

Orsted wants out of $300 million forfeiture for scrapped New Jersey offshore wind farmsThe Danish firm scrapped its Ocean Wind I and II projects in southern New Jersey, saying the projects were no longer financially feasible.
Read more »