From the Star Ledger:
A 58-year-old Bloomfield man was sentenced Friday to 20 years in state prison for cheating Sussex County homeowners in financial distress by transferring ownership of their properties to himself without their consent, according to the Morris County prosecutor.
On Oct. 14, a Sussex County jury found Kosch guilty of five counts of theft, two counts of fraud and one count of possession of personal identifying information, Knapp said in a statement.
The charges stemmed from Kosch’s operation of Floaters, LLC, a business involved in foreclosure rescues and the purchase of real estate in various Sussex towns, according to Knapp.
Kosch “targeted individuals in financial distress who had moved out of their homes,” Knapp said. He forged signatures transferring properties to himself or to Floaters, LLC, and then rented out the properties and collected the rental income, Knapp said.
Kosch was also found in possession of personal identifying information belonging to more than 100 people for the purpose of locating other property owners, according to Knapp. on
No information was immediately available on the amount Kosch stole or how much he must pay in restitution to his victims.