Family Of Bergen County Realtors, Board Director Charged In $4.7 Million Dollar Ponzi Scheme
The owner of a "distressed" North Jersey real estate investment firm, his parents, brother and one family friend were charged in a multi-million dollar Ponzi scheme that began in at least 2014, authorities said Thursday.
Chander Singh, 44, of Emerson, falsely solicited $4.7 million from approximately 30 investors through a web of entities under the umbrella of his company, SC Capital Investors LLC, Bergen County Prosecutor Mark Musella said.
The investigation into Singh and his company was launched last February, when authorities began receiving tips from multiple investors t…
Westchester Native Craig Carton Returns To Wfan After Serving Time In Prison For Ponzi Scheme
Westchester native Craig Carton is back in the WFAN booth more than three years after he was last on the air following a conviction for operating a Ponzi scheme.
Carton, who grew up in New Rochelle, was ordered to spend 42 months in prison last April, three years of supervised release, ordered to pay $4,835,186.56 in restitution, and to forfeit $4,590,000 for running a Ponzi scheme that purportedly covered his gambling debts.
On Thursday, Oct. 29, after 1,150 days off the air, Carton was back on WFAN in the afternoon drive, making a solo guest spot during the last hour on what will be his f…
Hackensack Teacher From Oradell Charged With Pocketing $300,000 In Ponzi Scheme
A Hackensack schoolteacher from Oradell ran a Ponzi scheme that fleeced investors of $300,000 that she used for herself, authorities announced Monday.
Suzette Hart, 54, “solicited multiple investors for various high-yield, well-known investment opportunities knowing that the investments were fraudulent” over a five-year period, Bergen County Prosecutor Mark Musella said.
Hart, who most recently taught at Hackensack’s Fairmount School, then “disbursed money from one investor to other investors, which reinforced the deception that the investor’s money had been properly invested and was produc…
Bergen Prosecutor: Feds Capture Parolee In $500,000 Ponzi Scheme
U.S. Marshals captured an ex-con who ran a Ponzi scheme while on federal probation that swindled a Fort Lee investor, among others, out of more than $500,000, authorities said.
Giuseppe Valentino, 52, “solicited multiple investors in his company, Rhineau LLC, by representing that he had developed a proprietary algorithm for the execution of binary options,” Bergen County Prosecutor Mark Musella said Wednesday.
A judge issued a warrant for Valentino’s arrest in March after Financial Crimes Unit detectives found that he’d collected a half-million dollars that he used for himself without inves…
Wfan May Welcome Back Westchester's Craig Carton After Prison Stint, Reports Say
Could disgraced WFAN sports radio talking head Craig Carton make a return to the station after serving out his jail sentence for operating a Ponzi scheme?
The Westchester native is reportedly on the radar of WFAN higher-ups after “ally” Chris Oliviero was hired in May to run WFAN as Entercom’s senior vice president and market manager.
Last April, Carton, who grew up in New Rochelle, was ordered to spend 42 months in prison, three years of supervised release, and ordered to pay $4,835,186.56 in restitution and to forfeit $4,590,000 for running the Ponzi scheme that reportedly covered his g…
Morristown Adviser In Investment Scams Fined $750,000, Loses Registration
A Morristown investment adviser was fined $750,000 and had his registration pulled for selling more than $12 million of unregistered securities in New Jersey, some of which were tied to Ponzi schemes and other scams, state authorities said Tuesday.
Gary Scheer, managing member and sole investment adviser representative of Retirement Financial Advisors, LLC in Morristown, recommended and sold unregistered securities to at least 50 investors from 2010 through 2018, state Attorney General Gurbir S. Grewal said.
He made more than $600,000 in commissions on the sales, which involved franchises, …
Father-Son Investment Scammers From Bergen Get State Prison Time Tacked Onto Federal Sentences
Having been sentenced to federal time, two members of a Bergen County family of con artists received state prison terms Friday in Hackensack for defrauding investors in back-to-back multi-million dollar scams.
George Bussanich Sr., 61, of Park Ridge, was sentenced to 10 years in state prison, while George Bussanich Jr., 40, of Saddle River, was sentenced to eight years in state prison.
Bussanich Sr.’s wife, Wilma Bussanich, 58, was sentenced Friday to five years of probation and 125 hours of community service for a previous guilty plea to money laundering.
Last March, George Bussanich Sr. …
