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Financial Fraud

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ELDER ABUSE: Financial Advisor Swiped $75K, Neglected 90-Year-Old Woman In His Care: NJ AG ELDER ABUSE: Financial Advisor Swiped $75K, Neglected 90-Year-Old Woman In His Care: NJ AG
Elder Abuse: Financial Advisor Swiped $75K, Neglected 90-Year-Old Woman In His Care: NJ AG A financial advisor from Verona abused his authority over a 90-year-old client's finances, stealing $75,000 while neglecting her care and well-being and letting her bills pile up, state authorities charged. John Boston, 47, tried to hide his hiring to manage the woman's affairs and assets, they said. He never told his employer and ignored a federal Financial Industry Regulatory Authority requirement to register the victim as a client, New Jersey Attorney General Matthew Platkin said in a joint announcement with Interim Insurance Fraud Prosecutor Al Garcia. After obtaining durable fin…

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by Jerry DeMarco
News
NJ Broker Scammed Grieving Army Families Out Of $3.5 Million In Death Benefits, Feds Charge NJ Broker Scammed Grieving Army Families Out Of $3.5 Million In Death Benefits, Feds Charge
NJ Broker Scammed Grieving Army Families Out Of $3.5 Million In Death Benefits, Feds Charge Families of soldiers killed in war lost nearly $3.5 million to a merciless financial counselor from New Jersey who exploited their grief, federal authorities have charged. Caz Craffy, 41, worked for the United States Army when he defrauded two dozen Gold Star families who trusted him out of death benefits, U.S. Attorney for New Jersey Philip R. Sellinger said on Friday, July 7. Craffy – also known as “Carz Craffey” – “took advantage of his role as an Army financial counselor, using lies and deception to steer their investments in a way that would make him money,” Sellinger said during a new…

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by Jerry DeMarco
News
Jersey Shore Cyberthief Swipes $300,000 From Retiree's Account: It Happens A Lot Jersey Shore Cyberthief Swipes $300,000 From Retiree's Account: It Happens A Lot
Jersey Shore Cyberthief Swipes $300,000 From Retiree's Account: It Happens A Lot An unemployed cyberthief from the Jersey Shore swiped more than $300,000 from an elderly Lodi resident’s retirement account after stealing the victim’s identity, authorities charged. Joseph Bilotta, 65, hijacked the online account, along with others in New Jersey and Maryland, “to fund his lifestyle,” Bergen County Prosecutor Mark Musella said. Lodi police notified members of the prosecutor’s Financial Crimes Unit of the account takeover scheme in 2021, Musella said. They arrested Bilotta on theft charges following an investigation and sent him to the Bergen County Jail only to have a judg…

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by Jerry DeMarco
Police & Fire
Ex-Treasurer Stole Thousands From Jersey Shore Charity For Disadvantaged Students: Prosecutor Ex-Treasurer Stole Thousands From Jersey Shore Charity For Disadvantaged Students: Prosecutor
Ex-Treasurer Stole Thousands From Jersey Shore Charity For Disadvantaged Students: Prosecutor The former treasurer of a Monmouth County nonprofit has been charged with stealing thousands of dollars from the organization, authorities said. The charity funds educational opportunities for disadvanced students, according to  Acting Monmouth County Prosecutor Lori Linskey. Hazim Yassin, 32, of the Lincroft section of Middletown is charged with theft by unlawful taking, Linskey said. An investigation by the MCPO Financial Crimes and Public Corruption Bureau was initiated earlier this year, after the Red Bank Education Foundation performed a financial audit and identif…

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by Jon Craig
News
Central Jersey Man Swindled Investors Out Of $1M, Prosecutor Says Central Jersey Man Swindled Investors Out Of $1M, Prosecutor Says
Central Jersey Man Swindled Investors Out Of $1M, Prosecutor Says A 43-year-old man from Monmouth County has been indicted in connection with allegedly stealing about $1 million from business clients, authorities said. The clients were swindled through fraudulent stock purchases and promissory notes, according to Acting Monmouth County Prosecutor Lori Linskey. Anthony Giordano, 43, of Freehold was charged with two counts of first-degree financial facilitation of criminal activity, second-degree theft by deception, and second-degree misconduct by a corporate official in connection with thefts from five victims that took place between July 20…

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by Jon Craig
Police & Fire
Passaic County Adviser Conned Investors Out Of $471,602, State Authorities Charge Passaic County Adviser Conned Investors Out Of $471,602, State Authorities Charge
Passaic County Adviser Conned Investors Out Of $471,602, State Authorities Charge An investment adviser from Passaic County stole $471,602 from two dozen investors he recruited for an unregulated commodities trading group, state authorities charged. The business he the Think Big Institute was failing when Scott Nicholson, 53, of North Haledon, began to “misappropriate investor monies by withdrawing existing investment monies and new investments for his personal benefit,” state Attorney General Gurbir S. Grewal said. Over the course of five years, Nicholson transferred $373,823 in investment money to his personal checking account and paid $271,129 worth of personal expens…

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by Jerry DeMarco
News
'Not A Single Human Being Will Shed A Tear': Infamous Ponzi Schemer Madoff Dies In Fed Pen 'Not A Single Human Being Will Shed A Tear': Infamous Ponzi Schemer Madoff Dies In Fed Pen
'Not A Single Human Being Will Shed A Tear': Infamous Ponzi Schemer Madoff Dies In Fed Pen He stole from the rich, from the poor and from plenty of others in-between. Bernie Madoff, the most notorious Ponzi schemer in history, has died in federal prison, according to reports. “Bernie Madoff is dead. There is not a single human being on this earth who will shed a tear,” columnist Joe Nocera tweeted Wednesday morning. Madoff, 82, was serving a 150-year sentence without parole at a North Carolina penitentiary for defrauding thousands of people of billions of dollars in the largest Ponzi scheme ever prosecuted. The Associated Press said a source with direct knowledge of the matter c…

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by Jerry DeMarco
Police & Fire
Feds: Philadelphia Market CEO Stole $7.8M From Job To Pay For Pricy Jersey Shore House Feds: Philadelphia Market CEO Stole $7.8M From Job To Pay For Pricy Jersey Shore House
Feds: Philadelphia Market CEO Stole $7.8M From Job To Pay For Pricy Jersey Shore House The former president and CEO of Philadelphia Wholesale Produce Market is facing federal charges for stealing $7.8 million from his employer to pay for various personal expenses including $1.9 million in rent on his Jersey Shore house, authorities said. The Information alleges that Caesar DiCrecchio, 60, of Vorhees, NJ, had control over every aspect of the Market, including the expenditure of funds, and was required to report on the Market’s finances to its Board of Directors, according to Acting United States Attorney Jennifer Arbittier Williams. DiCrecchio defrauded the mark…

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by Nicole Acosta
News
NJ Charges 9 With Using Stolen IDs, Bogus Driver's Licenses To Buy $1.3M Worth Of Vehicles NJ Charges 9 With Using Stolen IDs, Bogus Driver's Licenses To Buy $1.3M Worth Of Vehicles
NJ Charges 9 With Using Stolen IDs, Bogus Driver's Licenses To Buy $1.3M Worth Of Vehicles Nine people from New Jersey, Connecticut, Massachusetts and Ohio used stolen IDs to get digital driver’s licenses that they used to finance more than $1.3 million worth of vehicles and water craft, Garden State authorities charged. The defendants got the driver’s licenses from motor vehicle agencies in Jersey City and North Bergen using stolen identities of U.S. citizens in Puerto Rico, New Jersey Attorney General Gurbir S. Grewal said Thursday. They also used fake Puerto Rico driver’s licenses, along with other false documents to land big-ticket items at dealerships in New Jersey, Pennsylv…

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by Jerry DeMarco
Police & Fire
Feds Bust 400 Scammers Who Preyed On Elderly Feds Bust 400 Scammers Who Preyed On Elderly
Feds Bust 400 Scammers Who Preyed On Elderly Federal prosecutors throughout the U.S. have teamed up to charge more than 400 people in scams that have recently cost America’s senior citizens more than a billion dollars.  The largest coordinated sweep of elder fraud ever was announced by U.S. Attorney General William P. Barr during a talk earlier this week aimed at protecting older Americans from financial harm. The event, “Keeping Seniors Safe,” was held – where else? – in Florida. The Sunshine State had the most prosecutions brought by federal authorities in the sweep: 21. Ranking second was New York State, with 18. The Southe…

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by Jerry DeMarco