Bergen County, N.J., Prosecutor Mark Musella announced the arrest of Gerrmaioud Chape, of Rochelle Park, N.J., on charges of theft by deception, theft, and forgery. The arrest is the result of an investigation conducted by the Bergen County Prosecutor’s Office under the direction of Chief Jason Love.
In January, detectives from the Bergen County Prosecutor’s Office Financial Crimes Unit received a complaint that Chape was involved in mortgage-related fraud through the use of his company, 10 Percent Group , LLC. The investigation revealed 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. The investigation showed Chape maintained control over the victim’s funds, and their losses are approximately $525,000.
On May 18, 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.
Chape was charged with two counts of second-degree theft by deception, N.J.S.A. 2C:20-4; two counts of second-degree theft, N.J.S.A. 2C:20-3b; and two counts of third-degree forgery, N.J.S.A. 2C:21-1a(1). Chape was released on his own recognizance pending a future Central Judicial Processing Court hearing.