Three plead guilty in fraud and pyramid scheme

Guilty Pleas in Fraud and Pyramid Scheme

Three Millburn, NJ officials of a small brokerage firm pleaded guilty today to securities fraud and a pyramid scheme that may have included 7,000 people of more than $120 million over a ten year period. The three alleged sold illegal municipal bonds as collateral for personal and commercial loans to benefits themselves and business ventures.

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Somerset County Defense Lawyers

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Posted on February 20, 2012, in News and tagged , , . Bookmark the permalink. Comments Off on Three plead guilty in fraud and pyramid scheme.

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