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Bankruptcy Fraud

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OFF THE MARKET: Teresa & Joe Giudice's North Jersey Mansion May Finally Have A Buyer OFF THE MARKET: Teresa & Joe Giudice's North Jersey Mansion May Finally Have A Buyer
OFF THE Market: Teresa & Joe Giudice's North Jersey Mansion May Finally Have A Buyer Joe and Teresa Giudice's North Jersey mansion may finally have a buyer after months on the market. An offer was made Monday for the 10,000-square-foot home in the Towaco section of Montville, which is under contract, the New York Post reports. Joe and Teresa, who recently finalized their divorce, purchased the Indian Lane home in 2002 for $530,000. The couple raised their children in the home until they were convicted and jailed in 2014 for bankruptcy fraud and other related charges. The home was originally listed at $2.5 million, but he price was slashed last January to just under $2.25…

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by Cecilia Levine
News
Ex-Mamajuana Café Co-Owner From Bergen Admits Bankruptcy Fraud Ex-Mamajuana Café Co-Owner From Bergen Admits Bankruptcy Fraud
Ex-Mamajuana Café Co-Owner From Bergen Admits Bankruptcy Fraud UPDATE: A Bergen County businessman who once co-owned the popular Mamajuana Café chain admitted in federal court that he concealed assets from a bankruptcy trustee. An investigation by the NYPD and New York City-based Homeland Security agents led to charges against Victor Osorio, 53, of Cresskill, who helped spark the Dominican restaurant chain's expansion to Paterson, East Rutherford, Secaucus, West New York and Woodbridge, as well as to New York and Florida. Osorio, a Dominican native who also co-owned a separate restaurant in Pennsylvania, filed for Chapter 7 relief in U.S. District Cour…

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by Jerry DeMarco
Police & Fire
Bayonne Businessman Sentenced To Fed Pen In Tax, Bankruptcy Fraud Bayonne Businessman Sentenced To Fed Pen In Tax, Bankruptcy Fraud
Bayonne Businessman Sentenced To Fed Pen In Tax, Bankruptcy Fraud A Bayonne businessman man who used check-cashing businesses to hide hundreds of thousands in income he earned from his construction companies was sentenced to 18 months in federal prison on Wednesday. Patrick Franconeri, 57, must serve all of the plea-bargained sentence for tax evasion and bankruptcy fraud because there’s no parole in the federal prison system. Franconeri failed to file a tax return or request an extension for 2014 after earning taxable income of $1,362,950, on which he owed the IRS $558,439 in payments, U.S. Attorney Craig Carpenito said. He earned the money as the owner …

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by Jerry DeMarco
Police & Fire
NJ Scammers Who Paid Bills, Bought Fancy Cars With Homemade Money Orders Headed To Fed Pen NJ Scammers Who Paid Bills, Bought Fancy Cars With Homemade Money Orders Headed To Fed Pen
NJ Scammers Who Paid Bills, Bought Fancy Cars With Homemade Money Orders Headed To Fed Pen Two New Jersey men are bound for federal prison for producing bogus money orders and cashier’s checks that they used to buy themselves luxury cars, pay off credit card bills and clear a mortgage. Germaine Howard King, 47, of Elizabeth was sentenced Tuesday in U.S. District Court in Newark to 70 months. Daniel D. Dxrams (currently known as “Daniel Kusi”), 41, of Maplewood was sentenced to 57 months. Both must serve their entire terms because there’s no parole in the federal prison system. “King was convicted for his role in a scheme to defraud banks and other lenders using phony money order…

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by Jerry DeMarco
Police & Fire
Elizabeth, Maplewood Scammers Bought Rolls Royce, Other Fancy Cars With Bad Checks Elizabeth, Maplewood Scammers Bought Rolls Royce, Other Fancy Cars With Bad Checks
Elizabeth, Maplewood Scammers Bought Rolls Royce, Other Fancy Cars With Bad Checks An Elizabeth man and a Maplewood resident were both found guilty last week of using phony checks and money orders to obtain a small fleet of luxury cars and to pay off a large mortgage balance, the U.S. Attorney for New Jersey said. Germaine Howard King, a 43-year-old Elizabeth resident, used counterfeit money orders he created on a computer with the assistance of a woman named Melissa Reynolds, who previously pleaded guilty to fraud. The two tried to pay off two Mercedes Benzes using the money orders as well as a $432,000 mortgage. The financial institution mistakenly accepted the bogus m…

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by Paul Milo
Police & Fire
Bayonne Businessman Admits To Multimillion Dollar Fraud, Tax Evasion Bayonne Businessman Admits To Multimillion Dollar Fraud, Tax Evasion
Bayonne Businessman Admits To Multimillion Dollar Fraud, Tax Evasion A Bayonne man who used check-cashing businesses to hide hundreds of thousands in income he earned from his construction companies pleaded guilty to tax evasion last week, the Newark office of the IRS said in a statement. Patrick Franconeri, 57, owned several firms based in New Jersey but failed to report any income from them in 2014. He admitted in court that he actually made more than $1.3 million that year, income for which he owes $558,439 in taxes, the IRS said. Franconeri also defrauded the bankruptcy courts, authorities said. In 2010, he filed for relief under Chapter 7 but failed to…

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by Paul Milo
Police & Fire
Montclair Manager Who Swindled Ne-Yo, Brian McNight Out Of Millions Gets 7½ Years In Fed Pen Montclair Manager Who Swindled Ne-Yo, Brian McNight Out Of Millions Gets 7½ Years In Fed Pen
Montclair Manager Who Swindled Ne-Yo, Brian McNight Out Of Millions Gets 7½ Years In Fed Pen A business manager from Montclair will spend nearly 7½ years in federal prison for swindling celebrity clients – including R&B singers Ne-Yo and Brian McKnight – out of $7.9 million for a failed sports drink venture while using their money as what one government official called “a personal slush fund.” Kevin R. Foster, 43, was sentenced earlier this month after jurors in Columbus, Ohio, last year convicted him of 16 counts -- including wire fraud, money laundering, bankruptcy fraud, tax evasion and filing false tax returns. The case emerged from the prosecutions of Thomas E. Jackson an…

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by Jerry DeMarco
Police & Fire
Montclair Man Who Stole Millions From Ne-Yo, Brian McKnight Sentenced Montclair Man Who Stole Millions From Ne-Yo, Brian McKnight Sentenced
Montclair Man Who Stole Millions From Ne-Yo, Brian McKnight Sentenced A business manager from Montclair who defrauded his celebrity clients of millions of dollars through investments in a sports drink company has been sentenced to 89 months in prison, the U.S. Attorney’s Office in Columbus, Ohio, said last week. Kevin R. Foster, 43, represented musicians Ne-Yo, who was born Shaffer Smith, and Brian McKnight, the famed R&B singer. Foster convinced Smith to invest $2 million in OXYWater, invested another $1.5 million with Smith’s knowledge and also forged his signature to get a $1.4 million line of credit. Foster also invested in the company on behalf of …

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by Paul Milo
Police & Fire
Feds Charge Former Mamajuana Café Co-Owner From Cresskill With Bankruptcy Fraud Feds Charge Former Mamajuana Café Co-Owner From Cresskill With Bankruptcy Fraud
Feds Charge Former Mamajuana Café Co-Owner From Cresskill With Bankruptcy Fraud Federal authorities have charged a Cresskill businessman who co-owned the popular Mamajuana Café chain of Dominican restaurants with bankruptcy fraud. An investigation by the NYPD and New York City-based Homeland Security agents led to charges against Victor Osorio, 40, who helped bring the chain to East Rutherford, Secaucus and Paterson, as well as New York and Florida. Osorio, a Dominican native who also co-owned a separate restaurant in Pennsylvania with Mamajuana partner Carlos Saint-Hilare, filed for Chapter 7 relief in U.S. District Court in Newark in February 2017, U.S. Attorney Crai…

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by Jerry DeMarco
Police & Fire
Ex-Mets Star Lenny Dykstra Charged With Putting Gun To Uber Driver's Head Ex-Mets Star Lenny Dykstra Charged With Putting Gun To Uber Driver's Head
Ex-Mets Star Lenny Dykstra Charged With Putting Gun To Uber Driver's Head Troubled former New York Mets centerfielder Lenny Dykstra was carrying cocaine, Ecstasy and pot when he was arrested by police in Linden before dawn Wednesday for threatening an Uber driver, authorities said. The 47-year-old driver headed to police headquarters and leaned on the horn, then ran from the car toward officers who seized Dykstra, 55, just before 3:30 a.m. Wednesday, Lt. Christopher Guenther said. Moments earlier, he told police, Dykstra “put a weapon to his head and threatened to kill him” when the former World Series champion refused Dykstra’s commands to change the original de…

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by Jerry DeMarco