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Developer, Family Indicted in Monmouth-Ocean Mortgage Scheme

Twelve-count indictment alleges fraud in Toms River, Lakehurst, Howell and Wall, among other towns

 

A Wall Township developer and several of his family members have been indicted in connection with an alleged mortgage fraud scheme.

Christopher Colatrella, 40; John T. Colatrella, 49; Alexis Colatrella, 27; Vincent Veritas, 24, all of Wall; Delores Cittadino, 79, of Long Branch; Martin D'Amato, 27, of Colonia, and Clara Carr, of Bayonne, all were named in a 12-count indictment handed up by an Ocean County grand jury in Toms River.

Christopher Colatrella owns CMC Holdings LLC; John T. Colatrella, his brother, owns Colatrella Properties; Alexis Colatrella, John's daughter, is a former employee of Mortgage Line Financial Services, as is D'Amato. Veritas is John Colatrella's stepson, and Cittadino is John's mother-in-law. Carr's relationship to the others is unknown.

The group, except for Carr, was arrested in August in what the Ocean County Prosecutor's Office labeled "Operation Family Affair." According to information released at the time, the group bilked more than $2 million through a real estate deal flipping scheme.

According to the indictment, the fraud took place between May 25, 2007 and July 11, 2008 in Lakewood, Lakehurst, Toms River, Howell, Matawan and Wall.

Christopher Colatrella was indicted on two counts of first-degree financial facilitation of criminal activity, two counts of first-degree conspiracy to commit financial facilitation of criminal activity, and a count of second-degree conspiracy to commit theft by deception. The indictment alleges he directed the property transactions in an amount exceeding $500,000 and engaged others in the criminal activity.

Alexis Colatrella was indicted on two counts of first-degree financial facilitation, two counts of first-degree conspiracy to commit financial facilitation, three counts of theft by deception, and a count of second-degree conspiracy to commit theft by deception. The indictment alleges she falsified mortgage applications to Lehman Brothers Bank, JP Morgan Chase Bank and Washington Mutual Bank, each in excess of $75,000.

John Colatrella was indicted on two counts of first-degree conspiracy to commit financial facilitation of criminal activity and a count of second-degree conspiracy to commit theft by deception.

D'Amato was indicted on a count of theft by deception for allegedly falsifying a mortgage application to Bank of America, and conspiracy to commit theft by deception.

Carr was indicted on a count of theft by deception, for allegedly falsifying a mortgage application to American Partners Bank, and conspiracy to commit theft by deception.

Cittadino and Veritas each were indicted on a single count of conspiracy to commit theft by deception.

Ocean County Prosecutor Marlene Lynch Ford said the arrests were the result of a yearlong investigation into the group's activities.

Christopher Colatrella, John Colatrella and Alexis Colatrella were released from the Ocean County Jail, Toms River, on $500,000 bail, no 10 percent, each, on Aug. 23 and all were required to surrender their passports. D'Amato was released on $100,000 bail, no 10 percent, on Aug. 23 and required to surrender his passport.

Bail information on Carr, Cittadino and Veritas was not immediately available.

Related Topics: mortgage fraud scheme

DOCTOR ANDY

10:00 am on Tuesday, September 18, 2012

I KNOW THIS FAMILY THEY HAVE ALWAYS BEEN THEIVES AND LIARS..REAL POND SCUM...I HOPE THEY GET THE MAX

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Michelle

11:26 am on Tuesday, September 18, 2012

I am a dear friend of the family and I find it absolutely appalling that you "doctor Andy" would post something so disgraceful. You have no business attacking this family and making accusations regarding something you obviously have no clue about. And as far as peoples character, you have showed your true chracter with that post considering you didn't even have the guts to use your real name... COWARD !

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So Much to Say

1:43 pm on Tuesday, September 18, 2012

To defend THEIVES AND LIARS..REAL POND SCUM you must be just as bad.

Hang them all, they preyed upon people losing their homs to profit.

ed sherwood

11:41 am on Tuesday, September 18, 2012

seems like the family has been indicted in steeling millions how upstanding can they be

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Michelle

11:47 am on Tuesday, September 18, 2012

Another ignorant post .... The family was indicted ALLEGEDLY on certain charges. This is America and you are INNOCENT until proven GUILTY! So get a life Ed and tend to your own family, instead of making false accusations and assumptions regarding someone elses family.

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J

12:20 pm on Tuesday, September 18, 2012

Michelle, they weren't "allegedly" indicted, they have in fact been indicted. But you are right that they have yet to be convicted of anything. Given that this article provides no details of the charges, and the previous one gave only the vaguest outline of the supposed fraud, I don't see how anyone here can be so sure that the Colatrellas are either guilty or innocent. That's what juries are for.

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Michelle

12:38 pm on Tuesday, September 18, 2012

You are in fact correct "J" ... I am aware that they were indicted... When I said allegedly I was referring to the charges and what ignorant and cowardly people are accusing them of. I don't agree with anyone,regardless of the situation, making comments about a situation that they know absolutely NOTHING about.

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Mike Fassanello

1:22 pm on Tuesday, September 18, 2012

Why would you know so much about the situation Michelle? Unless you were intimately involved, or the persons involved told you the whole story, just because you "know" the family doesn't mean you "know" the situation. This was a year-long investigation, and the fact that they were indicted means that a grand jury found that there was enough evidence to put them on trial. So, I think you might want to take some of your own advice and not make comments or criticize those who do, when you know as much as they do. People don't mistakenly get indicted for $2 million in mortgage fraud. It doesn't make them "pond scum" but they're certainly not very upstanding citizens now are they?

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Michelle

1:33 pm on Tuesday, September 18, 2012

This will be my last comment ... People do in fact get indicted on false charges. There are people that go to jail for murder, only to find out years later that they were innocent the entire time. Just because someone is indicted does not mean that they in fact did anything wrong or committed the crime. OJ Simpson was proven innocent hahaha the judicial system is always so dead on!!!?!?.. Get a life people and mind your business.

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Mike Fassanello

1:42 pm on Tuesday, September 18, 2012

This is not some high-level conspiracy out to get this family Michelle. Being indicted does not imply guilt or innocence, but it certainly does imply that a jury found that there was enough credible evidence to put these folks on trial. Nobody is toting the accuracy of the judicial system either. But you can't hide behind the fact that they're innocent until proven guilty and then cite instances that the legal system has not lived up to public opinion. It's one or the other Michelle. In addition, who should mind their own business? You came on these boards in support of this family with supposed "inside information" attacking others with a different view point. "Get a life"...the typical retort for those with nothing left to say.

JosephGhabourLaw

1:36 pm on Tuesday, September 18, 2012

Under law you can pick your own title company. And, most of all, for your own sake, don't fudge income figures under any circumstance. It's sad to see such deception slip through the fingers of banks.

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George Clark

1:45 pm on Tuesday, September 18, 2012

if these people are found guilty, what would they face? A year maybe in jail? Oh sure they should face much more but in reality they will get a slap on the wrist and not a penny restitution will be taken from them. i'm not saying they are guilty but that the penalties we have in place for the biggest and most lucrative robberies going on in today's society are a bad joke. Who here wouldn't do 2 maybe 3 years in minimum security for say 2 million or more? All those goldmen that sacked us should be given life sentences because that's exactly what they took from so many. Their entire life savings on some scam we all ended up paying for and are still paying for. When will the american people hold these crooks truly accountable for the massive damage and chaos they have created? We bail them out as they sell us all out. nice America. I'm so proud to be an American. Aren't you all?

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Mike Fassanello

1:56 pm on Tuesday, September 18, 2012

Kind of a strange tangent you went on there George. These people, if found guilty, won't be able to keep the money they made fraudulently. Just like if someone robbed a bank. They don't get to exchange the $$$ for prison time. Goldman Sachs didn't commit any crimes. I think you're referring to Bernie Madoff??? He wasn't able to keep the money he attained illegally either. It's still being litigated in fact. He hid funds all over to make such a process difficult. But at the moment, his assets are frozen, like anyone else who commits this type of offense. You're point about the U.S. bailing out criminals is baseless. Unfortunately, your agenda seems to have run aground here.

ed sherwood

1:58 pm on Tuesday, September 18, 2012

michelle, the only intellegent thing you posted is this is your last comment, I take care of my own always will,wtf are you reffering to................

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jackson Browb

2:11 pm on Tuesday, September 18, 2012

oh my goodness, imagine that. A developer and people with connections to a Mortgage Company indicted for fraud. That's never happened before has it? The trial if it goes that far will determine what happened. I am just amazed that anything like this would happen. I know all the people who are involved in REal Estate and Finances are beyond reproach.

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jane smith

3:01 pm on Tuesday, September 18, 2012

michelle - it should be your last post - how could you defend people that ripped off others to get ahead! While so many of us put in a hard days work to make ends meet, this family robs, steals and lies - how awful and how awful of you michelle to defend them - I am sure if you were on the losing stick you wouldn't feel the same about them!!

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Maya Grace

3:32 pm on Tuesday, September 18, 2012

What's awful is that you losers like to be BIG and BAD and talk sh*t behind your computer screens and in the comforts of your own homes and offices... You're ALL pathetic !!!

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Mike Fassanello

5:22 pm on Tuesday, September 18, 2012

Hypocritical at all? Who's being big and bad Maya??? Seems like you're doing some talking of your own.

.

5:26 pm on Tuesday, September 18, 2012

It seems as though there was a very thorough investigation on this family before the indictments came down. There are an awful lot of charges listed for this not to be true. We aren't pathetic, Maya Grace. It is pathetic to defend such thieves. We are sick and tired of crooks like this preying upon the innocent. These days, people don't get away with much!

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Maya Grace

6:14 pm on Tuesday, September 18, 2012

Keep deflecting off of your self Mike .. You seem to be the biggest loser of the bunch ... I'm sure you're hiding behind a fake name like the rest of them ... I,unlike you, worked all day and wasn't try to fight with people all day on my computer. I'll say it again...PATHETIC !

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Mike Fassanello

6:20 pm on Tuesday, September 18, 2012

I'm a big freaking loser who thinks I'm cool and likes to bash other people on a computer. I appoligize for being such am incredibly big d-bag but I have nothing better to do with my time. I have no girlfriend or friends at all for that matter. I sit at home all day and watch porn and fight with people on the patch. Only god can judge me !!

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So Much to Say

6:36 pm on Tuesday, September 18, 2012

@Mike Fassanello

Do you sit arround all day and cheat people out of their homes, cheat banks out of money, cheat the IRS by not reporting your illegal gains of you theft? Sitting home all day watching porn don't look so bad to me then.....Enjoy!

Anyone who defends such crooked trash should be sitting in the same jail cell as them. PERIOD!!!!!!!

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Mike Fassanello

9:30 am on Wednesday, September 19, 2012

Obviously it's very easy to duplicate someone's username on these boards. I'm not quite sure what I said that was so offensive to these folks but wow, there's quite a bunch here. @Maya, this is my real name. How am I deflecting off myself? What does that even mean? And fake Mike, what are you even talking about? I haven't "bashed" anyone. Read the comments.

Mtort

6:47 pm on Tuesday, September 18, 2012

They got indicted because they're too stupid to think there's no paper trail in a crime that involves nothing but filling out papers. They'll get some jail time, pay the restitution for 20 yrs and have to re file tax returns for the yrs they committed the crimes and then the IRS will get them

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Sean Conneamhe

8:09 pm on Tuesday, September 18, 2012

"Sounds like a disorganized crime family."

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clamdigger

10:02 pm on Tuesday, September 18, 2012

I say we just skip the trial and go straight for the hanging.

It's time to bring back public lynchings at the county courthouse,make it a once a month happening. We can have a beer truck,hot pretzels,cotton candy and a Saturday hanging, what a way to spend the day.

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LA

10:49 pm on Tuesday, September 18, 2012

I happen to know this family personally and they would never hurt another person for profit. On the contrary, they would take the shirt off their back for someone in need.

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.

11:20 pm on Tuesday, September 18, 2012

I seem to remember people saying the same things about Mike Ritacco when his fiasco started. They all said what a great guy he was, what wonderful things he did for Toms River, he would never steal from the "children" etc. We heard it all from his defenders. What are they saying now that his behind has to be in jail for 11 years? Can't wait to hear how this case plays out.

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annabel

3:09 pm on Wednesday, September 19, 2012

I also have known the family and can agree that they would give the shirts off their backs, but to say that they would never hurt another person for money??? you obviously haven't known them that long.....

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annabel

3:10 pm on Wednesday, September 19, 2012

I also have known the family and can agree that they would give the shirts off their backs, but to say that they would never hurt another person for money??? you obviously haven't known them that long.....

So Much to Say

11:02 pm on Tuesday, September 18, 2012

It's so nice to see these SWINDLERS have friends. Or are they cohorts???

HANG THESE CROOKS

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LA

5:48 am on Wednesday, September 19, 2012

I wonder if all of the people that are "throwing stones" are comfortable living in their glass houses.
Also, The Ritacco incident was very different. He held a public position and was trusted by tax paying citizens with their money. It was estimated that he embezzled over a million dollars a YEAR while he held office. He KNEW what he was doing was illegal, and still continued his actions year after year.
And he actually IS a nice guy, by the way.

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Billabong

7:09 am on Wednesday, September 19, 2012

I get it now. If you're going to accept bribes, screw taxpayers, lie to people with behind the back dealings (which eventually land you in prison) - do so with a smile and a handshake and you too can be a "nice guy." Good people sacrifice for the people and kids they serve, not try to profit from their position.

Bowie Thelonius

8:01 am on Wednesday, September 19, 2012

From the article:

Christopher Colatrella, John Colatrella and Alexis Colatrella were released from the Ocean County Jail, Toms River,on $500,000 bail, no 10 percent, each, on Aug. 23 and all were required to surrender their passports. D'Amato was released on $100,000 bail, no 10 percent, on Aug. 23 and required to surrender his passport.

WOW!!! $500,000 bail, and no 10 percent. Does that mean they each had to put up $500,00 in cash?

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Minden Yo

8:39 am on Wednesday, September 19, 2012

Isn't there something productive all of you have to do besides create drama? Too much TV watching?

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ed sherwood

1:11 pm on Wednesday, September 19, 2012

same name 51 years, never hid behind anything....................................

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Lakehurst Resident

3:38 pm on Wednesday, September 19, 2012

Nice people who cheat and steal? I don't care how nice they are if their morals are in the toilet. I sat on a grand jury for a year in Trenton and the prosecutors present hard, tangible and diligent evidence before an indictment is handed down. I am not one who finds everyone accused to be guilty before a trial by their peers but an indictment for financial fraud is usually very thoroughly damning. I believe that they'll have their weeks in court and can prove how innocent they are but the trials of this sort are usually iron-clad evidence with no true defense.

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clamdigger

5:17 pm on Wednesday, September 19, 2012

###'s don't lie. A good forensic accountant will find it no matter how it's hidden.

jj251

9:30 pm on Wednesday, September 19, 2012

I have known this family for a very long time. They have always been complete scum. Always will be. They just cannot help themselves. They do not care who they hurt or what they do, they care about themselves and only themselves. These half ass want to be wise guys think that they can go through life and do whatever they want. They derserve a long time behind bars. They derserve for the IRS to be all over them and find out what is really going on. I've never met a good Colatrella and I never will.

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Old Enough

12:38 am on Thursday, September 20, 2012

Wow, I guess you could be a counter character witness after Michelle and Annabell take the stand. LOL.. The comments are funny in this link.. LOL

Either way innocent until proven guilty if our Constitution is still legal when this trial kicks off.

Once you are notified of your charges, the Fifth Amendment of the Constitution protects you from self-incrimination, which allows you to refuse to testify during your trial. You may also confront any witnesses who are testifying against you and collect your own witnesses and evidence.

Your rights also protect you from unreasonable search and seizure-meaning the government must have a search warrant in order to search your private property. If evidence was collected illegally, it cannot be used against you in court.

Finally, you have the right to be tried by a jury of your peers if you desire. Individuals who are charged with serious crimes also must be indicted by a grand jury before their case goes before the court.

Because you are innocent until proven guilty, the prosecution must prove your guilt beyond a reasonable doubt. In other words, once all of the evidence against you is considered, no reasonable person should be able to question your guilt-otherwise, you cannot be found guilty. You also cannot be charged with the same crime twice.

Colonia Resident

7:50 am on Friday, September 28, 2012

John has priors so I am sure he will get some time. Chris graduated Law School so he may have a trick or two up his sleeve. I am appalled that John got his daughter and 79 year old mother in law involved in such a scam. That's just so selfish. I don't know how some of these idiots could defend them just because they were never on the losing side of the table when it came to dealing with this family. WAKE UP YOU'RE LIVING IN A BUBBLE. Indictments aren't just handed down because someone has a small amount of credible evidence. It's because the state feels they have enough evidence to go to trial and win the case. These people have stolen from all of us tax payers because it is our dollars that will be used to find them guilty and our dollars that will facilitate and feed them for a couple years in prison. I am a Colonia resident and have known this family for a long time and this whole debacle doesn't surprise me at all. The reason people are using screen names and fake names to hide their identity on this patch is most likely because they know members of this family and know they would take revenge. They'll have their day in court.

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Long Branch Resident

1:59 pm on Wednesday, October 3, 2012

Grand jury indicts 16 in scheme

According to a press release from the Monmouth County Prosecutor's Office, Daryl M. Colatrella, 33, of Wall Township; John H. Gebala, 48, of Toms River; John M. Catania, 39, formerly of Marlboro; Jennifer Gilarmo, 53, of Fort Lee; Jeffrey D. Rankin, 36, of Freehold; Luigi Carulli, 31, of North Plainfield; Tanya Banks, 40 of Roselle; Greg Matarazzo, 49, of Wall Township; Mounir M. Guiruis, 41 of Edison; John T. Colatrella, 43, of Wall Township; Frank DiComo, 41, of Woodbridge; Anthony Brennan, 48, of Elizabeth; and Michael A. Calabrese, 56, of Toms River, were all indicted for second degree conspiracy and theft by deception.
IT''S. ALL THE COLATRELLA'S Not one good thing about this family

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