DEVELOPING STORY: MORE CREST CONDOS TIED TO NEW FBI STING

It’s another case of a mortgage fraud scheme involving multiple properties, and some of them are condos in Wildwood Crest.  Authorities announced today that ten more people have been rounded up in connection with a mortgage fraud scheme that resulted in straw buyers collecting huge rewards tied to the sale of properties in a few states, including condos in Wildwood Crest.  A 46-page indictment was handed down today and named all ten individuals; none of them are from Cape May County.  The condos are reportedly oceanfront condos that were built by financially distressed developers.  All ten have been charged with conspiracy to commit wire fraud.