realestate

New Jersey real estate lawyer gets 10-year prison term

Disbarred real estate attorney sentenced to 10 years in prison for stealing over $1 million from clients.

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former Monmouth County real estate attorney has been sentenced to 10 years in prison for stealing over $1 million from dozens of clients. Steven Salami, 49, of Hazlet, pleaded guilty last October to second-degree financial facilitation of criminal activity, also known as money laundering. He admitted to stealing nearly $1.18 million from 60 clients through his law practice, The Closing Table.

    Prosecutors said Salami's scheme left victims without the homes they had paid for, missing closing dates and losing their purchases. He spent a significant portion of the stolen funds on himself, with nearly $588,000 going towards substance abuse and gambling problems.

    Salami's defense attorney cited his severe substance abuse and gambling issues as contributing factors to the fraud. The case began with an investigation into four victims who were defrauded out of nearly $300,000 in 2019, eventually expanding to include dozens more. Salami has been ordered to pay back the full amount to the New Jersey Lawyers' Fund for Client Protection, which has already reimbursed his clients.

New Jersey lawyer sentenced to 10-year prison term for real estate crimes.