TRENTON -- Over the course of building affordable housing in Trenton, developer Robert Kahan misstated his net worth in order to obtain huge loans, then skimmed money from the accounts to buy a condominium in Florida and make repairs on his son’s home, a federal indictment alleged today.

The 25 count-indictment includes bank fraud, mail fraud, fraud against a local government receiving federal proceeds, and making false statements on a loan application.

Kahan converted money designed for affordable housing and used it for his own means, U.S. Attorney Paul Fishman said in a statement.