Bergen Man Defrauds Lenders Of $500K In Mortgage Loans, Charged: Cops

BERGEN COUNTY, NJ — A local man stands accused of soliciting $525,000 in mortgage loans by falsely representing interests in properties he did not own, according to authorities.

Gerrmaioud Chape, 43, is alleged to have defrauded two private lenders of the funds through the use of his company, 10 Percent Group, LLC, over the course of a year, police officials said in a complaint.

Chape allegedly supported his claims by providing fraudulent mortgage documents for the two properties he purported to own, and then deprived the out-of-state lenders of the funds, the complaint said.

He was charged with theft, forgery and theft by deception, and was arrested Thursday at his Rochelle Park home without incident, Bergen County Prosecutor Mark Musella said.

He was then released on his own recognizance pending an initial court appearance, Musella said.