October 3, 2024October 3, 2024

N.J. man collected more than $400K from investors in fake real estate development scheme, officials say

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A man was arrested on Thursday in a real estate investment scheme that allegedly defrauded investors of more than $400,000, officials said.

Jason S. McNeill, 48, of Wycoff, is charged with theft by deception and forgery, the Bergen County Prosecutor’s Office said in a news release.

Financial crime detectives have been investigating McNeill since April. They have alleged that he received a total of $420,000 from eight investors after showing them forged documents about where the money would be invested.

He told the victims that their funds would be used to purchase vacant lots in Newark for development, which turned out to be false, authorities said.

Prosecutors did not say what the funds were spent on.

McNeill is being held at Bergen County Jail pending a detention hearing.

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Nicolas Fernandes may be reached atnfernandes@njadvancemedia.com.

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