Multi-Million-Dollar Real Estate Ponzi Schemer Admits Securities Fraud and Money Laundering

    Multi-Million-Dollar Real Estate Ponzi Schemer Admits Securities Fraud and Money Laundering

    NEWARK – February 4, 2013 – (RealEstateRama) — A Somerset County, New Jersey man pleaded guilty today to one count of securities fraud and one count of money laundering, admitting that he defrauded victims of an investment scheme by misusing their capital contributions and misrepresenting the performance of their investments, U.S. Attorney Paul J. Fishman announced.

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