SENTENCING IN $740,000 MORTGAGE FRAUD CASE

On Friday, July 31, 2015, Christopher Colatrella, 43, Wall Township was sentenced to 5 years in state prison after pleading guilty to 2nd Degree Financial Facilitation of Criminal Activity (Money Laundering) related to an investigation that involved performing the acts of mortgage fraud, theft by deception and money laundering. Christopher Colatrella’s brother John Colatrella, 52, Long Branch, was sentenced to 2 years probation for 3rd Degree Conspiracy to Commit Theft by Deception. John Colatrella’s daughter Alexis Colatrella, 29, Wall Township was admitted into PTI (Pre-Trial Intervention) for her role obtaining fraudulent mortgages.

This investigation involved the act of mortgage fraud, theft by deception and money laundering involving over $2 million in fraudulent loans for townhouses located in Lakehurst, NJ. The criminal activity resulted in a financial benefit totaling over $740,000 from fraudulent mortgages and the proceeds were inserted and laundered through multiple personal and business accounts.

Martin D’Amato, Clara Cara, Dolores Cittadino and Vincent Veritas had there charges dismissed as part of the plea agreement with the Ocean County Prosecutor’s Office. Below is the full list of case defendants and charges indicted in August of 2012:

• Christopher Colatrella – 1st Degree Financial Facilitation of Criminal Activity, 1st Degree Conspiracy to Commit Financial Facilitation of Criminal Activity, 2nd Degree Theft by Deception, 2nd Degree Conspiracy to Commit Theft by Deception.
• John Colatrella – 1st Degree Conspiracy to Commit Financial Facilitation of Criminal Activity and 2nd Degree Conspiracy to Commit Theft by Deception.
• Alexis Colatrella – 1st Degree Financial Facilitation of Criminal Activity, 1st Degree Conspiracy to Commit Financial Facilitation of Criminal Activity, 2nd Degree Theft by Deception, 2nd Degree Conspiracy to Commit Theft by Deception.
• Martin D’Amato – 2nd Degree Theft by Deception, 2nd Degree Conspiracy to Commit Theft by Deception.
• Clara Carr – 2nd Degree Theft by Deception, 2nd Degree Conspiracy to Commit Theft by Deception.
• Dolores Cittadino – 2nd Degree Theft by Deception, 2nd Degree Conspiracy to Commit Theft by Deception.
• Vincent Veritas – 2nd Degree Theft by Deception, 2nd Degree Conspiracy to Commit Theft by Deception.

Chris Colatrella

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