- Associated Press - Monday, July 27, 2015

NEWARK, N.J. (AP) - A northern New Jersey man involved in a $5 million mortgage fraud scheme has been sentenced to two years in prison.

Kenneth Sweetman was also ordered Monday to pay nearly $2.3 million in restitution. The 34-year-old Nutley man had pleaded guilty to conspiracy to commit wire fraud affecting a financial institution.

Federal prosecutors say the massive mortgage fraud scheme involved multiple properties in Elizabeth.

From March 2011 through July 2012, prosecutors say Sweetman and others conspired to obtain mortgage loans through fraudulent means.

Prosecutors say the conspirators conducted 16 fraudulent real estate transactions, including 11 Elizabeth properties, and got more than $5 million in illegitimate proceeds.

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