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Cash Flow

Police & Fire
Bergen-Based Debt Reliever From Wayne Admits Scamming Victims Out Of $5 Million Bergen-Based Debt Reliever From Wayne Admits Scamming Victims Out Of $5 Million
Bergen-Based Debt Reliever From Wayne Admits Scamming Victims Out Of $5 Million A Bergen County lending company founder from Wayne who promised to help desperate, low-income customers pay off crushing loans admitted Thursday that he pushed them even further into debt while pocketing more than $5 million. Edward Espinal, 44, of Wayne, who pleaded guilty videoconference to securities fraud and conspiracy in exchange for leniency at sentencing, is “the quintessential con artist,” Acting FBI Special Agent in Charge Douglas Korneski said. “He played a shell game with other people’s hard-earned money, making promises he never intended to keep, and walking away with ill-gott…

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by Jerry DeMarco
Police & Fire
Feds: Bergen-Based Debt Reliever From Wayne Scams Victims Out Of $5 Million Feds: Bergen-Based Debt Reliever From Wayne Scams Victims Out Of $5 Million
Feds: Bergen-Based Debt Reliever From Wayne Scams Victims Out Of $5 Million The founder of a Saddle Brook lending company promised to help desperate, low-income customers pay off crushing loans, then pushed them even further into debt, pocketing more than $5 million, said federal authorities who arrested him. Edward Espinal, 44, of Wayne advertised his Cash Flow company on YouTube, other social media and Spanish-language TV, sometimes using the Venezuelan telenovela actor Víctor Cámara, U.S. Attorney Craig Carpenito said. Espinal, who was the company’s founder and CEO, ran a couple of scams beginning 3½ years ago and ending with his arrest by federal agents earlie…

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by Jerry DeMarco