Former sheriff's officer pleads guilty to fraud to avoid Keansburg home mortgage
NEWARK - A former Hudson County sheriff's officer admitted to helping create a fraudulent short sale on his Keansburg home as a way to get out of his mortgage, U.S. Attorney Philip R. Sellinger said Wednesday.
Osbado Hernandez, 54, of Avenel pleaded guilty in federal court on May 22, to an information charging him with one count of conspiracy to make false statements in connection with the release of a loan, Sellinger said.
Hernandez engaged in the illegal activity from September 2015 to December 30, 2015, agreeing with others to make false statements in connection with a fraudulent short sale of the property, including that he did not have any money to apply toward his mortgage delinquency and that he did not intend to stay in the house for more than 90 days after the short sale, according to court documents.
As a result of the fraudulent short sale, the bank discharged over $98,000 of debt against Hernandez, Sellinger said.
The false statements conspiracy charge is punishable by a maximum potential penalty of five years in prison and a maximum fine of up to $250,000, according to Sellinger. Sentencing is scheduled for October 4, 2023.
Jenna Calderón covers breaking news and cold cases in Monmouth and Ocean counties. Before coming to the Press, she covered The Queen City for Cincinnati Magazine in Ohio. Contact her at 330-590-3903; jcalderon@gannettnj.com
This article originally appeared on Asbury Park Press: Ex-Hudson County sheriff's officer pleads guilty to short sale fraud
