Disbarred Area Attorney Faces 10 Years in Prison for Real Estate Fraud

A former Red Bank attorney is facing 10 years in state prison for his role in real estate fraud and embezzlement scams, Acting Monmouth County Prosecutor Christopher Gramiccioni announced.

Alexander M. Iler, 39, who had an office on Broad Street and was disbarred in June of 2012, was sentenced to the 10 years on Monday after admitting in August that he fraudulently assumed ownership of a deceased client's property by forging the "seller" signature on the deed, which was recorded in the Monmouth County Clerk's Office, a release from the Prosecutor's Office said.

No sale of the property actually took place, but the fake paperwork filed gave that appearance.

Iler had been leasing the property from the woman's estate when he fraudulently acquired it as his own via a property transfer for $575,000 in December of 2011, the release said. Iler then encumbered the real estate by using it to secure a mortgage, it added.

In addition to the phony property transfer, Iler is being penalized for bilking other clients of more than $500,000. He "consented to the entry of a civil judgement against him in the amount of $530,866.77," it said.

The charges against Iler are: one count of second-degree theft of immovable property; one count of second-degree theft by deception; and four counts each of second- and third-degree theft by failure to make required disposition of property received.

The case was prosecuted by Monmouth County Assistant Prosecutor Andrew S. Fried of the Office’s Financial Crimes and Public Corruption Bureau. Iler is represented by Dean Schneider, Esq., of Red Bank.