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Chander Singh, 44, of Emerson, falsely solicited $4.7 million from approximately 30 investors through a web of entities under the umbrella of his company, SC Capital Investors LLC, Bergen County Prosecutor Mark Musella said.
The investigation into Singh and his company was launched last February, when authorities began receiving tips from multiple investors that Singh owed them money from various related real estate transactions, Musella said.
The investigation found that Singh, an attorney, had been perpetuating a Ponzi-like scheme in which he promised investors double digit returns since at least 2014, authorities said.
His co-conspirators included four employees of Century 21 All Stars 100 -- who also happen to be his parents, brother and a family friend, according to Musella.
Singh's Emerson parents are Sooruh "Paul" Singh and Savitree "Joyce" Singh. His brother and family friend, both of Bergenfield, are Subhas "Brian" Singh and Chandrika "Basil" Singh.
Chandikra is the director of the Eastern Bergen Board of Realtors -- a panel which oversees ethical complaints related to real estate, and a board member of the New Jersey Multiple Listing Service.
All were arrested Tuesday, Nov. 10, and charged with money laundering, theft and forgery charges, Musella said.
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