NEW JERSEY – The latest twist in a string of cases involving the bogus property tax money laundering scheme has been uncovered in a New Jersey court.
A judge in Camden on Monday ordered a new trial for a man convicted of defrauding investors by offering them money for real estate investments.
A jury last month convicted John T. Dufresne of one count of making false statements, three counts of obtaining a false instrument and one count each of obtaining property by false pretenses.
A second jury convicted Dufre of two counts of making a false statement, one count for obtaining property and one for making a fraudulent instrument.
A third jury acquitted Dufreesen of all counts.
The case was one of two fraud cases involving money laundering, which prosecutors said cost $1.2 million.
In each case, Dufraneson promised investors that his real estate firm would help them buy homes and turn them into rentals.
He also offered to turn his real property into a vacation rental or a holiday rental.
Dufresen and his co-defendants sold the properties to buyers who then turned them into vacation rentals, hotel rooms and vacation homes.
In court papers, the government argued that Dufesen and other defendants sold homes and properties with bogus names and then paid out cash and commissions to the buyers.
In the case of Dufrezne, he was accused of making several false statements to investors, including that he had purchased the properties and the properties were now owned by his company, Tilt2Rental.
The defendants also allegedly lied about the income from the real estate.