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.

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Charlie is the founder and editor of New Brunswick Today, and the winner of the Awbrey Award for Community-Oriented Local Journalism. He is a proud Rutgers University journalism graduate and a community organizer, and was an independent candidate for Mayor of New Brunswick in 2018.