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Puccio Building And Construction Management LLC, 1 Kensington Ct, Mahwah, NJ holds a House Enhancement Professional license according to the New Jersey license board. Their Build, Zoom rating of 91 ranks in the top 37% of 88,231 New Jersey licensed contractors. Their license was verified as active when we last examined. If you are believing of hiring Puccio Construction Management LLC, we advise double-checking their license status with the license board and using our to get competitive quotes.
2 New Jersey guys were arraigned in federal court Monday for a reverse mortgage plan that used inflated home appraisals to get $1. 6 million in earnings that were then taken from unwary house owners. Rafael Peralta of Clifton, New Jersey, and Philip Puccio Jr. of Mahwah, New Jersey, were arraigned by a federal grand jury on one count of conspiracy to dedicate scams and six counts of bank scams.
The two apparently obtained older property owners for house repair work and renovations, motivating them to make an application for a reverse home mortgage to fund the work. More Details conspired with an appraiser to submit inflated home valuations in order to secure bigger proceeds on the reverse home mortgages, and likewise sent false loan documents that actively concealed the reality that the loan proceeds were being dispersed to entities they owned, the indictment mentioned.
6 million in loans. "The diverted loan proceeds were transferred into savings account managed by Peralta and Puccio and used for their individual benefit and to enhance the conspiracy," the DOJ mentioned. The two face up to 30 years in prison, a $1 million fine, or twice the gross financial gain by the accuseds or twice the gross financial loss to others, whichever is higher.
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Utilizing an unlicensed real estate appraiser name Soprano, a pair of contracting bilker one from Mahwah, the other from Clifton swiped $1. 6 million by targeting senior victims in a reverse home loan scam, federal authorities charged. Philip Puccio Jr., 40, of Mahwah, and Rafael Peralta, 46, of Clifton, persuaded the house owners to get the home loans for home repair work, an indictment returned by a federal grand jury states.
