Jersey City Man Admits to Defrauding Lenders Out of $400K

NEWARK, NJ - A 52-year-old Jersey City man faces up to 30 years in jail and a one million dollar fine after admitting that he conspired to orchestrate a fraudulent home equity line of credit that led to over $400,000 in losses for the impacted lenders.

According to U.S. Attorney Philip R. Sellinger, Anthony Garvin, 52, whom the statement described as a "real estate investor" pleaded guilty to one count of conspiracy to commit bank fraud and four counts of bank fraud.

Between 2011 and 2014, the statement said, Garvin and his conspirators prepared and submitted loan applications that contained lies and fake supporting documents, including fake pay stubs, W-2 forms, tax returns, bank account statements, and deeds. Garvin split his fraud proceeds with his conspirators and defaulted on all of the loans, the statement said.

Garvin is set to be sentenced on April 11, 2023.