Englewood Cliffs Woman, Daughter Accused of Fraudulent Loan Scheme

An Englewood Cliffs woman and her daughter have been charged in a fraudulent loan scheme, the Bergen County Prosecutor's Office said Tuesday.

Anna S. Lee, 54, of Englewood Cliffs, was charged with first-degree money laundering, second-degree conspiracy to commit money laundering, second-degree theft by deception and misconduct by a corporate officer.

Jennifer H. Lee, 25, of New York, N.Y., was charged with first-degree money laundering and second-degree conspiracy to commit money laundering.

The investigation revealed Anna Lee represented several victims in loan modifications agreements for their residence or rental properties, according to the prosecutor's office.

Anna Lee fraudulently obtained more than $300,000 in payments from the victims for loan modification services to include attorney fees, escrow funds and processing fees and instead used the funds for personal expenses, the prosecutor's office said. It caused several of the victims' properties to go into foreclosure, the prosecutor's office said.

Anna Lee laundered the money through her company, Donche Consulting Corp., and her daughter laundered money from the fraudulent loan modification scheme through her personal bank accounts, according to the prosecutor's office.

Bail was set for each Anna and Jennifer Lee at $75,000 with no 10 percent option and both had to surrender their passports.