TRENTON, NJ – Aron Puretz, a 53-year-old real estate investor from New Jersey, pleaded guilty today to participating in a sophisticated mortgage fraud conspiracy. Over several years, Puretz and his associates fraudulently secured loans totaling more than $54.7 million and acquired multiple properties under false pretenses.
From 2016 to 2022, Puretz, an employee at Apex Equity Group and a property owner, engaged in deceptive practices to mislead lenders. He supplied falsified documents, such as overstated purchase contracts and counterfeit financial statements, to obtain loans for multifamily and commercial properties across various states.
One notable instance of fraud involved the acquisition of Maple Lawn in Eureka, Illinois, in February 2017 for $4.1 million, though a fraudulent contract of $5.8 million was presented to the lender and Freddie Mac. A similar scheme was conducted with Big Country Chateau in Little Rock, Arkansas, in 2019, and Troy Technology Park in Troy, Michigan, in 2020, where properties were acquired for $42.7 million but a fictitious $70 million contract was used.
Puretz also attempted to secure tax benefits through deceptive means, such as creating a nonprofit to receive tax-exempt status falsely. He concealed his involvement in property management from federal and state agencies to avoid scrutiny.
He pleaded guilty to a single count of conspiracy to commit wire fraud affecting a financial institution. Puretz is set to be sentenced on October 30 and could face up to five years in prison. The case was announced by U.S. Attorney Philip R. Sellinger and other federal officials, with ongoing investigations by the FHFA-OIG and USPIS.