Essex County Real Estate Investor Sentenced for Major Mortgage Fraud Scheme

Cabral Simpson received a 20-month prison term and was ordered to pay over $1 million in restitution for his role in a fraudulent mortgage operation.

Newark, NJ: In a significant ruling at Newark federal court, Cabral Simpson, a 47-year-old real estate investor from Orange, New Jersey, was sentenced to 20 months in prison, which he has already served, for his role in a mortgage fraud conspiracy. This sentence was handed down by U.S. District Judge Julien X. Neals, following Simpson's guilty plea to wire fraud conspiracy, as announced by U.S. Attorney Philip R. Sellinger.

The case, presided over by U.S. District Judge Kevin McNulty, revealed Simpson's involvement in fabricating bank statements and employee verification records. These fraudulent documents deceived lenders into issuing over $1 million in loans, leading to substantial defaults and significant financial losses to lenders and the U.S. Department of Housing and Urban Development.

Judge Neals' sentence includes two years of supervised release and an order for Simpson to pay restitution amounting to $1.29 million. This decision underscores the severity of mortgage fraud and its consequences on the financial market.

The successful prosecution of Simpson can be attributed to the diligent investigation conducted by the U.S. Department of Housing and Urban Development – Office of the Inspector General, led by Special Agent in Charge Janine Rocheleau in Newark. Assistant U.S. Attorney Andrew Kogan of the U.S. Attorney’s Office Cybercrime Unit in Newark represented the government in this case.

This case highlights the ongoing efforts of federal law enforcement to combat financial fraud and protect the integrity of the housing market. The sentence serves as a reminder of the legal repercussions of engaging in fraudulent financial activities and the commitment of U.S. judicial authorities to uphold justice.