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A Jersey City police officer was arrested yesterday by the FBI and charged in federal court with mortgage fraud for lying to a bank to secure a roughly $530,000 loan, authorities said.
Brian Ragauckas, 36, of Secaucus, falsely claimed he was a first-time home buyer in 2008 when he applied for a loan from Countrywide Bank to buy a three-family house in Jersey City, authorities said. When asked about his house in Secaucus, Ragauckas said he was a renter, not an owner, authorities said.
Ragauckas, an 11-year police veteran and nephew of former police chief Ronald Buonocore, was suspended without pay, a police spokesman said last night.
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