Category Archives: News
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.
Head of Collapsed Brokerage Gets Split Fraud-Trial Verdict
Ex President of Collapsed Securities Brokerage convicted of tax fraud
Gilbert C. Schulman 30, was found guilty and convicted for tax fraud by a Federal jury in Newark, NJ. They reached no verdict on security fraud charges against him.
Former New York Stock Exchange Specialist Sentenced For Federal Securities Fraud
Two Sentenced For Federal Securities Fraud
New York- The New York State Exchange has sentenced two former registered specialists: Michael Hayward, 53 of Ramsey, NJ and Michael Stern 56 of New Canann, Conn. on the New York stock exchange to six months in Federal prison on charges of securities fraud.
S.L. man and 4 others charged in alleged securities fraud scheme
Five charged in alleged stock fraud scheme
Kevin J Ruggerio a Lyndhurst securities broker has been indicted in an alleged securities fraud scheme along with Max C. Tanner a Las Vegas attorney, Dennis D. Evans a Las Vegas stock promoter and Mark A. Taylor of Tampa Fla. also a stock promotor. The individuals joined in an agreement to defraud investors through stock sales.
Securities Fraud Settlement of 73.3 Million
Firm to pay 73.3 Million in Securities Fraud Charges to NJ
Tyco International Ltd. has agreed to pay New Jersey 73.3 million in order to resolve charges that include securities fraud from the former management of the diversified manufacturer.
N. J. man admits embezzling $125,000 from local firm
N. J. man admits embezzling $125,000 from local firm
Jeffrey Kamikow, 40 from Livingstone, New Jersey pleaded guilty to falsifying business records and offering a false instrument for filling. The restitution that amounted to over $140,000.
New Jersey Takes Home $838 Million from Foreclosure Settlement from Mortgage Fraud
New Jersey Takes Home $838 Million from Foreclosure Settlement from Mortgage Fraud
New Jersey and it’s residents to recieve an estimated $838 million from a $26 billion in a national settlement among us states and five major lenders.
The participating lenders will be protected from any serious legal fallout after a period of wide spread fraud and foreclosure practices.
Lawyer From Bergen County, New Jersey Confesses Guilty to $400,000 Mortgage Fraud Scheme
Lawyer Confesses Guilty to $400,000 in Mortgage Fraud
Michael R. Senick of Old Tappan, NJ confesses to being part of a mortgage fraud scheme where lenders issued up to $400,000 in mortgage funding between January 2004 and January 2006. This is another “straw” buyer scheme that has come to light in mortgage lending.
Debit Card Fraud Unfounded
Debit Card Fraud
Employees from a local insurance company had their bank accounts tampered with. The victims allegedly used their debit cards at Hopewell Sub and Pizza. The owner of the restaurant was contacted by a bank and is installing a wireless firewall network to help protect patrons from being hacked.
N.J. eyes $100 million in unemployment-fraud crackdown
N.J. eyes $100 million in unemployment-fraud crackdown
NJ unemployment fraud crack down is helping New Jersey’s coffers by taking hold of the abuses of fraud in unemployment benefits. Officials estimate that the saving to the state could be in the amount of: 100 million.
Tonacchio Law LC 