Milwaukee Resident Stuart Nisenbaum Bound Over for Trial and Arraigned on Eleven Counts of Fraudulent Writings in Mortgage Rescue Scam

Aug 7 2014
Milwaukee Resident Stuart Nisenbaum Bound Over for Trial and Arraigned on Eleven Counts of Fraudulent Writings in Mortgage Rescue Scam

MADISON — Attorney General J.B. Van Hollen announced that on August 7, 2014, Milwaukee resident Stuart Nisenbaum appeared before Commissioner Katharine Kucharski in the Wisconsin State Circuit Court in Milwaukee County, where he waived his right to a preliminary hearing, at which time the Court found probable cause that he committed felonies.  The State then filed a criminal information setting out the same charges that are contained in the criminal complaint, and Nisenbaum was arraigned.  Upon conviction, each count carries a possible fine not to exceed $10,000 or imprisonment not to exceed six years, or both.


According to the criminal complaint, while working at Freedom Financial Group between December 2009 and July 2010, Nisenbaum allegedly obtained the signed personal checks of various financially vulnerable consumers by intentionally deceiving them with assurances that he would obtain a mortgage loan modification.  He also made several money-back guarantees.  Despite these assurances, he did not obtain a refinance and he did not refund any money.


A criminal complaint is a document that alleges that a crime was committed by a person or a corporation.  The defendant is presumed innocent unless and until proven guilty.


The matter has been set for further proceedings on August 20th, 2014, before the Honorable Judge Timothy M. Witkowiak - Milwaukee County Circuit Court, Branch 22. 


The charges are the result of an investigation by the Wisconsin Department of Justice (DOJ), Consumer Protection Unit.  Chapter 950 victim services are being provided by DOJ’s Office of Crime Victim Services.  Assistant Attorney General Eric D. Défort represents the State of Wisconsin as special prosecutor for the County of Milwaukee.


A copy of the criminal complaint is available here.