Page 6 THE VILLADOM TIMES II • June 8, 2011 Area Bergen County Prosecutor John L. Molinelli announced that a Bergen County Grand Jury returned a 25 count indictment against 12 persons for allegedly engaging in an elaborate mortgage fraud scheme involving Paragon Federal Credit Union in Montvale. The individuals arrested include: Jermaine Butler, 31, of Jersey City; Flavio Cardoza, 38, of North Bergen; Taneisha Frye, 33, of Jersey City; Shaon Griffin, 26, Orange; Peter Lamicella, 41, Twelve people indicted in mortgage fraud case of Toms River; Robert Lundholm, 42, of Toms River; Lee O’Keefe, 41, of Glen Ridge; Vereesa Polk, 42, of Atlanta, Georgia; Osvaldo Riveron, 50, of North Bergen; Peter Smith, 38, of Jersey City; Frances Wilson, 61, of Toms River; and Dawn Woolbert, 44, of Waldwick. All were indicted for conspiring to commit the crime of theft by deception and various other charges in the 25 count indictment. The charges are the result of an investigation by members of the Bergen County Prosecutor’s Office, White Collar Crime Unit under the direction of Chief Steven Cucciniello of the Bergen County Prosecutor’s Office, the United States Secret Service – New Jersey, under the direction of Special Agent-in-Charge Jacob Christine, and New Jersey Department of Treasury, Division of Taxation, Office of Criminal Investigation under the direction of Special Agent-In-Charge Charles Giblin. The investigation was initiated by representatives of Paragon Federal Credit Union. During a routine audit of their residential mortgage loans, bank investigators discovered that an unusual amount of residential mortgage loans were delinquent and promptly notified the Bergen County Prosecutor’s Office, White Collar Crime Unit. Detectives discovered that potential borrowers filled out loan applications with mortgage brokers from AOR Consultants or Apex Consultants. Both companies were operated out of the same office in North Bergen and are owned by Riveron. Cardoza was a mortgage broker who processed loans for AOR Consultants and Apex Consultants. The loans were presented to Woolbert, who worked for Paragon Federal Union as the loan coordinator for the residential home loan division. In order to take out a loan with Paragon, a potential borrower had to become a credit Ridgewood Parks and Recreation will offer its instructional and recreational aquatics program at Graydon Pool from July 5 through 31. Programs are offered to all seasonal members of Graydon Pool with an additional fee of $10 for non-residents. Youth level classes range from those just starting, to those preparing to take the deep water test, and those gearing up their competitive skills for swim team. Classes are 45 minutes and are $215 for 19 sessions that run Monday through Friday. Children may sign up for classes at 12:30, 1:15, or 2:15 p.m. Parents who want to spend time with their toddlers in the water can sign up for the 45-minute parent/toddler class that is held on Monday, Wednesday, and Friday. The fee is $135 for 11 sessions. Swim classes offered at Graydon Adults who want to learn to swim have two options. Each eight-session class is priced at $105. Adults may choose the classes held on Tuesday and Thursday from 10:30 to 11:15 a.m. or the classes held on Saturday and Sunday from 10:30 to 11:15 a.m. Fitness swim classes for adults and teens will run 11 sessions on Monday, Wednesday, and Friday from 10:30 to 11:15 a.m. The cost is $135. An adaptive aquatics program for special needs children will run Tuesday and Thursday from 11:30 a.m. to 12:15 p.m. This course is $125 for eight sessions. Applications are available at www. ridgewoodnj.net/graydon, the Graydon badge office, or in person at the Stable, 259 North Maple Avenue. For more information, call (201) 670-5560. union member and meet certain membership eligibility requirements and become a member of the credit union. Woolbert allegedly falsified the membership eligibility criteria of the potential borrowers to enable them to become credit union members and thereby apply for a loan. Woolbert was also responsible for reviewing each loan to determine whether the potential borrower met the credit union’s loan qualifications including having the appropriate personal expense to income ratios and loan amount to property value ratios. She was also required to verify that the supporting information contained in the application was accurate. When a borrower did not met Paragon’s loan eligibility criteria, Woolbert would return the application to Riveron and Cardoza and she would inform them what the personal income information and appraised value of the property needed to be to approve the loan. Riveron and Cardoza would hire Peter Lamicella of Lighthouse Appraisals, LLC, located in Toms River to prepare the appraisal report for the property. Riveron and Cardoza would instruct Lamicella to provide an appraisal report directly to Paragon with property values provided by Woolbert so they appeared to meet Paragon’s loan amount to property value ratio. Independent appraisers were subsequently hired to complete retroactive appraisals (continued on page 15)