A Red Bank man was among three Monmouth County residents indicted yesterday in an alleged attempt to defraud mortgage lenders of $4 million, the Asbury Park Press reports.

Thirty-six-year-old Kevin Deickman of Red Bank — no street address given — was charged along with Susan Pereless, 65, of Tinton Falls and her son, John Pereless, 40. A Monmouth County Grand Jury indicted them on theft-by-deception counts that carry prison terms of up to 10 years.

From the Press account:

An investigation by the Monmouth County Prosecutor’s Office revealed that the defendants allegedly participated in a conspiracy to file fraudulent mortgage applications to obtain financing for seven different properties, six in Monmouth County and one in Florida, authorities said…

The mortgage applications greatly exaggerated the financial positions of the applicants and the values of the properties, authorities said. In addition, excessive fees were charged, and funds from the closings were funneled into various shell corporations, authorities said.

The lenders have foreclosed on six of the seven properties, authorities said.