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Feds Accuse Cresskill Businessman Of Racketeering

Cresskill's David Kushner is being sued for defrauding investors in a mortgage business he was part owner of.
Cresskill's David Kushner is being sued for defrauding investors in a mortgage business he was part owner of. Photo Credit: Wikimedia Commons

CRESSKILL, N.J. -- A Cresskill businessman is being sued for racketeering, and conspiring to defraud investors in a mortgage business, according to NorthJersey.com.

The suit alleges David Kushner and two other part owners were engaged in widespread criminal enterprise by soliciting investments that would be lent as mortgages. When the mortgages defaulted, Kushner and his fellow owners allegedly held the homes in foreclosure hoping property values would rise. Investors were allegedly left out in the cold while Kushner and his associates profited on servicing fees, NorthJersey.com reported.

Attorneys for Kushner said the suit is false and without merit, NorthJersey.com said.

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