HACKENSACK, N.J. (CBSNewYork/AP) — An Englewood Cliffs, N.J. woman and her adult daughter were facing money laundering charges Tuesday, stemming from an alleged loan modification scheme.

Anna Lee, 54, allegedly took $300,000 in payments from several clients for loan modification services, including attorney fees, escrow funds and processing fees, according to the Bergen County Prosecutor’s office.

Prosecutors alleged Lee then used the money for personal expenditures, causing several victims’ properties to go into foreclosure.

Authorities said Lee laundered the money through her company, Donche Consulting Corp. Her 25-year-old daughter, Jennifer Lee, allegedly laundered some of the funds through her personal bank accounts.

Both women were arrested Monday, and each was being held on $75,000 bail. It was not known if either had retained a lawyer.

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