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.