A former North Jersey politician was sentenced Thursday to five years in prison for his role in a $13 million mortgage fraud scam that used phony documents and “straw buyers” to make illegal profits on overbuilt condos in two South Jersey shore towns.
John Leadbeater, 59, of Kearny, New Jersey, previously pleaded guilty in March 2015 before U.S. District Judge Jerome B. Simandle in Camden to an indictment charging him with conspiracy to commit wire fraud.