Checker Registration Revoked for Fraudulent Loan Application from Pension Fund
May 29, 2018
The checker registration of Benvenuti Pugliese, 48, of Newark, New Jersey, was revoked by the Commission following a hearing before an Administrative Law Judge (ALJ). The ALJ found that Pugliese obtained over $30,000 from the Prudential Pension Fund by submitting fraudulent documents in support of a loan application to purchase property. Pugliese provided the Prudential Pension Fund with a phony purchase agreement for property located at an address that did not exist. The fraudulent document included false information about the supposed property’s sellers, attorney representation and realtor location. Pugliese was assisted in the preparation of the fraudulent document by another checker whose case will be considered at the next Commission meeting. The ALJ stated, “[W]ith regard to Respondent Pugliese, the Commission proved that he lacked good character and integrity when he submitted false information.” The Commissioners agreed and ordered revocation of Pugliese’s registration as a Checker.