44 Charged by U.S. in New Jersey Corruption Sweep including bank fraud
A two year sting that was investigating money laundering and corruption that stretched from the Jersey shore to Israel and to Switzerland ended up bringing charges being filed against 44 people. The cases include: bank fraud to bribing government officials.
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.
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.
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.
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
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.