Freehold Borough Resident Pleads Guilty to Operating HUGE Mortgage Scheme

Lester Soto, Age 57, of Freehold Borough, pleaded guilty today to charges relating to a mortgage fraud scheme that cost customers and financial institutions millions of dollars. Mr. Soto worked with a group of individuals that made fake documents, including a lawyer, paralegal and mortgage loan officer.  Each charge against the mastermind of the scheme, Mr. Soto, carries a maximum penalty of 30 years in prison and a million dollars in fines.

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