Englewood Woman Charged In Multi-Million Dollar Scheme: Officials

ENGLEWOOD, NJ —An Englewood woman faces 30 years in prison after she was charged for her role in a conspiracy to secure more than $4 million in bank loans, authorities announced.

Jennie Frias, aka "Jennie Castillo," 36, was charged with conspiracy to commit bank fraud, said U.S. Attorney Craig Carpenito.

Frias was charged by a complaint and released on $100,000 bond after her initial appearance in Newark federal court Wednesday, Carpenito said.

Frias is accused of creating false documents to support customers' loan applications to appear "more financially viable than they actually were," Carpenito said.

Employees at Cash Flow Partners LLC, which Frias became director of, posed as loan applicants with speaking with the victims' banks, Carpentio said. They remotely controlled applicants' computers to submit documents to the banks and used applicants' cell phones to pose as them.

One of Frias' conspirators, Raymundo Torres, pleaded guilty to charges related to his role in the fraud conspiracy.

Anyone who thinks they may have information about this case is asked to contact the FBI at 800-225-5324.

Email: daniel.hubbard@patch.com