Judge releases accused Fair Lawn Ponzi schemer, orders her to turn in gun

UPDATE: A federal judge in Newark this afternoon released an accused Ponzi schemer on a $250,000 unsecured bond co-signed by her mom. The judge also ordered that Jenifer Devine, 39, undergo mental health and substance abuse treatment as is necessary, and that she have no contact with the victimized investors, pending trial.

Photo Credit: *that Devine used to advertise her business*

Jerry DeMarco

11/30/2010 10:08 p.m.

PHOTO that Devine used to advertise her business

She also was ordered to turn in a gun that she apparently kept in her house.

The FBI said Devine posed as a Carlstadt wholesaler dealing in designer fashions and electronics but actually had no goods to sell.

Instead, they said, she played a shell game with investors while skimming money to pay for a Royal Caribbean cruise, purchases at Burberry, Gucci and Coach, and a $26,000 gift for her mother.

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