Former Red Bank attorney accused in real estate scheme

Alexander Iler, 38, of Middletown, was arrested today on a charge of second-degree theft for fraudulently converting the ownership of a Middletown property to his own name, Acting Prosecutor Christopher J. Gramiccioni announced. Iler, formerly a licensed attorney, was disbarred from the practice of law in July 2012. He previously maintained a law practice in Red Bank, N.J.

The investigation undertaken by the Monmouth County Prosecutor’s Office revealed that Iler fraudulently assumed ownership of a Middletown property by recording a deed, at the Monmouth County Clerk’s Office, which contained a forged signature of the purported “seller.” Though no sale of the property had actually taken place, the fraudulent deed purported to reflect a transfer of the property from the seller to Iler for a sale price of $575,000 in December 2011.

Iler subsequently encumbered the real estate with multiple mortgages, totaling approximately $1,000,000. Iler was arrested on October 24 and was remanded to the Monmouth County Correctional Institution in lieu of a $250,000 bail, with no 10% option, set by Superior Court Judge Richard W. English., J.S.C. Conditions of bail also required Iler to surrender his passport and submit to a hearing on the source of any funds posted for bail.

If convicted, Iler faces a maximum custodial sentence of ten years in New Jersey State
Prison.

Despite these charges, every defendant is presumed innocent, unless and until found
guilty beyond a reasonable doubt, following a trial at which the defendant has all of the trial rights guaranteed by the United States Constitution and State law.

The case is assigned to Assistant Prosecutor Andrew S. Fried of the Office’s Special
Prosecutions Bureau. Defense counsel has not yet entered an appearance on behalf of Iler.

Released: October 24, 2012
http://www.prosecutor.co.monmouth.nj.us