A die-hard Jets fan who paid a record $400,000 for rights to two 50-yard-line seats might now be watching the games from federal lockup.
David Findel posted a $1 million bond today after being charged with mortgage fraud. He used the equity on his exclusive Colts Neck, N.J., home to secure the bond, federal officials said.
Findel was not asked to enter a plea in Newark federal court today, where he was accused of devising a scam to defraud mortgage lenders of millions of dollars.
A federal complaint said he abused his position as the President and CEO of Worldwide Financial Resources by fraudulently obtaining money from lenders through a scheme to "resell identical residential home mortgages to multiple financial institutions" in New York and New Jersey.
He was using money from the sham transactions for "personal use," the federal complaint said.
Last year, the New Jersey money man made headlines when he paid the record $400,000 for the rights to the two best seats at the new Meadowlands stadium, saying they were worth every penny, the New York Post reported.
He still needed to plunk down another $7,000 each annually for the season tickets themselves, which come with a private VIP entrance, parking, a full spread of food and drink at a swanky restaurant and access to the field during the game.