The Jersey City man previously pleaded guilty to multiple bank fraud-related charges.
A Jersey City real estate investor who previously admitted conspiring to orchestrate a bogus home equity line of credit scheme that led to over $400,000 in losses was sentenced Monday to two years in prison, authorities said.
Between 2011 and 2014, Anthony Garvin, 53, of Jersey City, worked with others to defraud banks by fraudulently obtaining multiple home equity lines of credit on real estate he owned, according to a statement from the US Attorney’ Office. In an attempt to conceal the scheme from lenders, Garvin and his unidentified conspirators prepared and submitted loan applications that contained lies and fake supporting documents, including phony pay stubs, W-2 forms, tax returns, bank account statements, and deeds, the office said. Garvin split his fraud proceeds with the others and defaulted on all of the loans, resulting in the hundreds and thousands of dollars in losses to the lenders.