Man Gets 5-Year Sentence In $740K Lakehurst Mortgage Fraud Case

A Wall Township man has been sentenced to five years in state prison for his role in a mortgage fraud scheme involving Lakehurst townhouses that netted its participants more than $740,000, Ocean County Prosecutor Joseph Coronato announced Monday.

Christopher Colatrella, 43, was sentenced Friday, said Al Della Fave, spokesman for the prosecutor’s office. Colatrella had pleaded guilty to second-degree financial facilitation of criminal activity (money laundering) related to an investigation that involved mortgage fraud, theft by deception and money laundering, Della Fave said.

Colatrella’s brother, John Colatrella, 52, of Long Branch, was sentenced to two years probation for third-degree conspiracy to commit theft by deception, Della Fave said, and John Colatrella’s daughter Alexis Colatrella, 29, of Wall Township, was admitted into pretrial intervention for her role obtaining fraudulent mortgages.

The three, along with four other people, initally were indicted in August 2012, Della Fave said.

Della Fave said the case involved more than $2 million in fraudulent loans for townhouses located in Lakehurst and the criminal activity resulted in a financial benefit totaling more than $740,000 from fraudulent mortgages and the proceeds were inserted and laundered through multiple personal and business accounts.

Four additional people charged -- Martin D’Amato, Clara Cara, Dolores Cittadino and Vincent Veritas -- had their charges dismissed as part of the plea agreement with the Ocean County Prosecutor’s Office.

(Photo credit: Ocean County Jail)