NJ real estate investor pleads guilty in federal money laundering sting that netted 44 arrests

NJ real estate investor admits money laundering

NEWARK, N.J. — A former real estate investor has pleaded guilty in New Jersey’s largest corruption sting.

Itzhak Friedlander faces up to 2 1/2 years in prison after pleading guilty Thursday to conspiracy to commit money laundering. He was among 44 people arrested last July in a massive federal corruption and money laundering sting.

Friedlander admitted laundering money through the Union City office of a developer. Prosecutors contend Friedlander, the developer and a third man took checks from a federal informant and converted them into cash through a religious charity.

Friedlander is the 14th defendant to plead guilty or be convicted in the sting. Neither he nor his lawyer commented after Thursday’s hearing.