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Mount Laurel Man Who Scammed $500K+ Sentenced In Foreign Currency, Car Loan Schemes: Feds
A Mount Laurel man will spend several years in prison after scamming hundreds of investors and car owners out of more than $500,000, authorities said.
Michael Salerno, 55, was sentenced on Monday, Aug. 26 to three years and one month in prison, U.S. Attorney for the Eastern District of Pennsylvania Jacqueline Romero said in a news release. He had pleaded guilty to three counts of wire fraud after he was indicted for schemes in September 2020 and February 2023.
Salerno operated Black Diamond Forex, L.P., BDF Trading, L.P., Advanta Capital Markets, Inc., and Advanta FX between …
