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Office of Securities Fraud and Financial Crimes Prosecutions

Police & Fire
Bergen Dad, Son Busted Again, This Time In $2.5M Jersey Shore ‘Fix-and-Flip’ Scheme Bergen Dad, Son Busted Again, This Time In $2.5M Jersey Shore ‘Fix-and-Flip’ Scheme
Bergen Dad, Son Busted Again, This Time In $2.5M Jersey Shore ‘Fix-and-Flip’ Scheme It seemed state and federal prosecutors had thrown all they could at a Bergen County father and son for a series of multi-million-dollar investment scams. But state authorities announced a new indictment against both men on Monday, Nov. 6. This time, George Bussanich, Sr., 65, of Park Ridge, and George Bussanich, Jr., 43, of Upper Saddle River, are charged with defrauding investors and mortgage lenders out of more than $2.5 million through a “fix and flip” investment scam involving Jersey Shore real estate. Victims believed they were funding the purchase, renovation, and resale of four…

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by Jerry DeMarco
Police & Fire
NJ Italian Restaurant Owner, 75, Faces Prison For Pocketing $500,000 In State Sales Taxes NJ Italian Restaurant Owner, 75, Faces Prison For Pocketing $500,000 In State Sales Taxes
NJ Italian Restaurant Owner, 75, Faces Prison For Pocketing $500,000 In State Sales Taxes The 75-year-old owner-operator of a New Jersey Italian restaurant faces up to three years in prison after admitting he stiffed the state out of nearly a half-million dollars in sales taxes over a period of nearly seven years. John Garofalo Sr. of Union Township – who owns Mario’s Tutto Bene restaurant in the township -- paid the outstanding $496,374.99 to the state as part of a plea deal that he hopes will get him leniency, New Jersey Attorney General Matthew Platkin said. His assistants will recommend that Superior Court Judge Sherry L. Wilson send Garofalo to state prison for three years …

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by Jerry DeMarco