By: Richard L. Smith
Authorities in Bergen County reported the arrest of Mr. Gerrmaioud Chape, 42, of Rochelle Park, on charges of theft by deception, theft, and forgery.
Prosecutor Mark Musella said in January 2023, detectives from the Bergen County Prosecutor's Office Financial Crimes Unit received a complaint that Chape was involved in mortgage-related fraud through his company, 10 PERCENT GROUP, LLC.
According to Prosecutor Mark Musella, the investigation revealed that Chape solicited and obtained investment funds from victims by representing false ownership interests in properties he did not own.
He supported his claims by providing fraudulent mortgage documents to his victims.
Prosecutor Mark Musella said the investigation showed that Chape maintained control over the victim's funds, and their losses are approximately $525,000.00.
On May 18, 2023, Prosecutor Mark Musella said personnel from the Bergen County Prosecutor's Office and the Rochelle Park Police Department executed a search warrant at Chape's residence, and he was placed under arrest without incident.