NEWARK, New Jersey – Acting U.S. Attorney Rachael A. Honig revealed today that a Bergen County, New Jersey man was detained on allegations of mortgage theft, fraudulently accessing an SBA loan, and taking another person’s identification documents.
Nathanael Zimmerman, 40, of Wyckoff, New Jersey, has been charged with wire fraud, financial fraud, and attempted identity theft. He is due to appear before U.S. Magistrate Judge Jessica S. Allen via videoconference this afternoon.
The following is the complaint:
From August 2013 to January 2014, Zimmerman organized a conspiracy to commit mortgage fraud involving FHA-insured loans. Zimmerman assisted persons in applying for FHA-insured loans and induced misleading claims to lenders, including the submission of false bank statements. Zimmerman was given a share of the loan profits. These unqualified people later defaulted on their loans, allowing the US Department of Housing and Urban Development to incur liabilities in excess of $300,000.
In 2020, Zimmerman used his deceased brother’s name to secure an Economic Injury Disaster Loan from the U.S. Small Business Administration (SBA) (EIDL). Zimmerman earned more than $150,00 by filing for EIDL funds in the name of his brother and utilizing his brother’s personal identity records.
Charges of wire fraud against a financial company and bank fraud include a statutory possible sentence of 30 years in jail and a $1 million fee, plus twice the taxable income or twice the gross damage incurred by the plaintiffs, whichever is larger. Aggravated identity fraud carries a maximum concurrent sentence of two years in jail and a $250,000 fee, plus twice the taxable income or twice the gross damage incurred by the owners, whichever is larger.
Acting U.S. Attorney Honig attributed the inquiry leading to today’s indictment to special agents of the FBI in Newark, led by Special Agent in Charge George M. Crouch Jr., and special agents of the U.S. Department of Housing and Urban Development, Office of Inspector General, led by Special Agent in Charge Christina Scaringi.
Assistant U.S. Attorneys Sammi Malek and Andrew Kogan of the U.S. Attorney’s Office Criminal Division in Newark are representing the prosecution.
The complaints and allegations in the case are simply suspicions, and the defendant is presumed innocent unless and unless proved guilty.
