Wednesday, 12 October 2016

Abandoned $8m mansion left in complete ruins after owner was sent to prison for mortgage fraud



An $8m mansion that was once home to a high-flying businessman is falling into ruin after he was jailed for fraud .

The palatial pad has been abandoned and left to rot, making it a target for vandals and a popular draw for urban explorers.
Eerie photos and video captured by a man who toured the boarded-up house have revealed shocking scenes in rooms that once symbolised the height of luxury.
Vandals have smashed windows and mirrors, punched holes in the wall and sprayed graffiti on almost every surface.
These snaps taken by an urban explorer, who calls himself the Unknown Cameraman, show that crime doesn't pay.
The huge home in the US state of New Jersey is set on a secluded estate with gardens that have become overgrown.
It was once owned by David Findel, 50, who was sentenced in 2011 to more than five years in prison for an $11m fraudulent loan scheme he ran as CEO of Worldwide Financial Resources.
The former mortgage executive was ordered to pay nearly $12m in restitution after the 2008 financial crisis exposed the scam.
In addition to the loan scheme he was given a two-year concurrent sentence for bankruptcy fraud after hiding remaining assets including cash, gold watches, wine and fine china.
The FBI said Findel received more than $11m in illicit proceeds from fake mortgageloans and used the money to fund a lavish lifestyle.
His ill-gotten gains helped him pay for the mansion in Colts Neck, holidays to exotic locations and exclusive seats at New York Jets football games.

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