Four New Jersey residents, including a Millington, NJ man, have been accused of attempting to defraud a bank out of $5 million in connection with an elaborate home loan scheme.

The four suspects are a 64-year-old man who resides in Millington in Long Hill Township, NJ, a 57-year-old Watchung man, a 50-year-old Warren, NJ man, and a 37-year-old woman who lives in Union, NJ.

According to the US Attorney’s Office, the suspects hid their identities by hiring “straw buyers” to obtain loans from a New Jersey bank.

Authorities investigated the suspects and eventually arrested the suspects.

The suspects have been charged with a federal crime for allegedly committing bank fraud.

If the suspects are convicted on the federal charges, they could potentially be sentenced to 30 years in prison.

Additionally, the Millington, NJ suspect could potentially be stripped of his license to practice law in NJ.

For additional information about this case, see the NJ.com article, “4 Charged with Elaborate $5M Mortgage Fraud Scheme.”