Christopher D. Biello, 43, of Coe Place in Middletown was sentenced to 14 years in state prison on Monday after admitting he deceived and impersonated at least 18 clients. Biello will be eligible for parole in 5 years and must pay restitution of $409,331.04 to the victims of his scheme under the sentence imposed by Superior Court Judge Joseph W. Oxley.
According to an announcement by Monmouth County Prosecutor Christopher J. Gramiccioni, Biello admitted that he obtained numerous credit cards in his victims’ names, engaged in fraudulent loan attempts using the victims’ identities, and forged documents.
Biello, who also used the alias Christopher Sherman, was arrested in January following a year-long investigation that revealed he offered to assist with the refinancing of homes, obtained numerous credit cards in victims’ names, engaged in fraudulent loan attempts using the victims’ identities, and forged documents. He pleaded guilty to to one count of second degree Theft by Deception, seven counts of third degree Theft by Deception, three counts of third degree Impersonation, four counts of third degree Bad Checks, two counts of third degree Theft, one count of fourth degree Forgery, one count of third degree Theft of Services, and one count of third degree Fraudulent Use of Credit Card in June.
According to his Linkedin profile, Biello operated Biello Consulting Group from an office on Newman Springs Road in Red Bank. The “group” offered foreclosure assistance, short sales, business consulting, business loans and equipment leasing, and networking and computer consulting services, according to its website. Prior to forming his consulting group, Biello was a sales manger for a mortgage company and a project engineer for FEMA.
Biello offered to assist with the refinancing for a Keansburg man and then obtained numerous credit cards and sought other loans in the victim’s name.
In another instance, Biello offered to engage in a short sale on a property in Brick Township, and provided the victim with a fraudulent document in an attempt to deceive him. A third incident occurred when Biello offered to assist with the financing on a property in Wyoming, where again, Biello provided the victim with a fraudulent document in an attempt to deceive him.
Biello has been in the custody of the Monmouth County Correctional Institution since his arrest on January 20.