Two Bergen County NJ Men Charged with Federal Fraud Crimes over South Korean Real Estate Deal
Four men, including two residents of Bergen County NJ, were recently indicted on fraud charges in New York.
The indictments were handed down by a federal grand jury in the U.S. District Court for the Southern District of New York. The suspects have been accused of committing fraud when they tried to sell a high-rise building in Vietnam for approximately $800 million. Federal prosecutors are claiming that the attempted sale violated the US Foreign Corrupt Practices Act.
In addition to being charged with violating the federal corruption statute, three of the suspects also face charges for money laundering, wire fraud, and aggravated identity theft.
The suspects include a 38-year-old Tenafly man, a 35-year-old Edgewater NJ man, a New York resident, and a man who lives in South Korea.
According to law enforcement, the Tenafly suspect worked with his father, the South Korean suspect, to bribe a foreign official and get the building sale approved in March 2013. If the sale had gone through, the Tenafly NJ suspect would have stood to make millions of dollars in commissions because he was a real estate broker.
Meanwhile, the Edgewater suspect allegedly helped to get the bribe money to the other suspects.
The two Bergen County suspects are currently in police custody, while the other two suspects have not yet been captured.
For more information about this case, access the NJ.com article, “2 N.J. Men Charged in $2.5M Bribery Scheme.”