City-Based Tax Consultant Admits Defrauding Two Local Banks Out of $1.5M

NEW BRUNSWICK, NJ – A tax consultant based in New Brunswick admitted to his role in a “check-kiting” scheme that involved 15 bank accounts at New Millenium Bank and Brunswick Bank & Trust.

And on Monday, Amro Badran, age 54, plead guilty to a federal bank fraud charge being brought by the U.S. Attorney for New Jersey Paul Fishman.  The Newark Star-Ledger reported that his scheme involved artificially inflating the values of the accounts.

He could face 30 years in prison and $1M fine.  Sentencing is scheduled for March 23, 2012.

Badran owns several properties in New Brunswick, including the home of his tax consultancy business, 147 Livingson Avenue.  That property has $21,121 in tax leins against it, 17th-highest of all city properties according notices published in this Saturday’s Home News Tribune.

 

Charlie is a community organizer, a Rutgers journalism graduate, and a 2018 independent candidate for Mayor of New Brunswick.

He can be reached at (732) 993-9697 or [email protected]