Mob-Connected Glen Rock Man Makes Bail in Real Estate Fraud Case

A Glen Rock man accused of swindling more than a dozen investors out of $5 million in bogus real estate schemes has been released on bail despite mafia ties, according to a report on northjersey.com.

A U.S. District Court judge ordered that Paul Mancuso, 46, be released on $250,000 bail and be required to wear an electronic monitoring device, according to the report.

U.S. Attorneys expressed concern over bail due to Mancuso's ties to the Bonnano crime family, The Record reports.

Mancuso, arrested by the FBI on March 5 for allegedly bilking 15 investors out of $5 million in a series of bogus real estate deals, was arrested in 2004 in a mafia-targeted sting dubbed "Operation Jersey Boyz."

Mancuso was accused of aiding the Bonnano/Massino family in an alleged off-shore gambling cooperative controlled by the Genovese crime family, according to the article. He was charged with racketeering and gambling offenses, but the charges were dropped in 2008.

The U.S. Attorney's Office claims Mancuso drained millions from investors from 2009-2013. The criminal complaint filed in Newark claims Mancuso – arrested with another man, a disbarred lawyer – used some of the money to pay back more than $600,000 in gambling debts in 2012. He reportedly still owes a bookie $500,000.