Bergen Homeowner Pleads Guilty In 'Shotgun' Loan Scheme

BERGEN COUNTY, NJ — A Ridgefield Park man faces up to 30 years in federal prison and a $1 million fine after pleading guilty to bilking banks out of nearly $500,000 in a home loan scheme commonly called "shotgunning," authorities announced.

Rafael Popoteur, 65, pleaded guilty before U.S. District Judge John Michael Vazquez to conspiracy to commit bank fraud between 2012 and 2014, said Acting U.S. Attorney William E. Fitzpatrick.

From 2012 through January 2014, Popoteur, Simon Curanaj and others, although Fitzpatrick did not say whom, conspired to fraudulently obtain multiple home equity lines of credit from banks on a Ridgefield Park home.

The conspirators transferred ownership of the property to Popoteur, who lived at the property, who, along with Curanaj and others, applied for three home equity lines of credit from multiple banks using the property as collateral, Fitzpatrick said.

They hid the fact that the property was either the subject to liens that had not been recorded, or that it was being offered as collateral; Popoteur also falsely inflated his income, the attorney said.

The property's equity was "far less" than the amount applied for, Fitzpatrick said.

The banks issued loans totaling more than $495,000, which Popoteur disbursed to Curanaj and others, Fitzpatrick said. Popoteur defaulted on the loans in 2014.

Sentencing is scheduled for Oct. 10.

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