By: Richard L. Smith
U.S. Attorney Philip R. Sellinger reported Tuesday that a former Hudson County Sheriff’s Officer admitted conspiring to make false statements to a bank in connection with an application to discharge a mortgage through a fraudulent short sale.
According to federal officials, Osbado Hernandez, 54, of Avenel, pleaded guilty before U.S. District Judge Michael A.
U.S. Attorney Sellinger said Shipp appeared in Trenton federal court on May 22, 2023, to an information charging him with one count of conspiracy to make false statements in connection with the release of a loan.
According to documents filed in this case and statements made in court:
From September 2015 to Dec. 30, 2015, in order to induce a bank to discharge the mortgage he owed on his house in Keansburg, New Jersey, Hernandez agreed with others to make false statements in connection with a fraudulent short sale of the property, including that he did not have any money to apply toward his mortgage delinquency and that he did not intend to stay in the house for more than 90 days following the short sale.
As a result of the fraudulent short sale, the bank discharged over $98,000 of debt against Hernandez.
The false statements conspiracy charge is punishable by a maximum potential penalty of five years in prison and a maximum fine of up to $250,000. Sentencing is scheduled for Oct. 4, 2023.