A 60-year-old man who has been jailed for almost a year is finally getting his day in court to challenge mortgage fraud charges.
Wayne Puff is accused of cheating investors and mortgage lenders out of $80 million in a Ponzi scheme run out of his company New Jersey Affordable Mortgage Corp. Prosecutors said Puff ordered real estate appraisers to artifically inflate the value of properties to trick investors into thinking their investments had value.
Puff also allegedly promised investors returns of 15 percent or more but used the money to make payments to previous investors.
