Former Willingboro Township Mayor Nathaniel Anderson has been sentenced to prison for mortgage fraud related to a fraudulent short sale of real estate, U.S. Attorney Robert Frazer announced. His business associate, Chrisone Anderson, received a sentence of eight months’ home confinement for her involvement in the scheme.
Nathaniel Anderson, 59, was sentenced to 12 months and one day in prison, followed by three years of supervised release. Chrisone Anderson, 58, received eight months’ home confinement and a three-year term of supervised release. Both were ordered by U.S. District Court Judge Robert Kirsch to pay restitution totaling $221,9862.71 to the victims.
The pair were previously convicted by a federal jury on charges including conspiracy to commit wire fraud affecting a financial institution, bank fraud, and making false statements on a mortgage application. From March 2015 to June 2017, they orchestrated a fraudulent short sale of a Willingboro property from Nathaniel Anderson to Chrisone Anderson.
The scheme involved executing mortgage documents with materially false representations, including claims that the transaction was arm’s length, that no prior business relationship existed between them, and that Nathaniel Anderson would not continue to reside at the property while Chrisone Anderson would occupy it as her primary residence. This fraudulent activity led to a government-sponsored enterprise discharging Nathaniel Anderson’s mortgage obligation, resulting in a loss of over $200,000, and a new mortgage being issued by a victim lender.
The investigation was conducted by special agents of the FBI, Newark Division, Trenton Resident Agency, and the Federal Housing Finance Agency, Office of the Inspector General.