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Irwin Slotnick

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NJ: Elderly Siblings With 8th-Grade Educations Swindled In $500,000 Investment Scam NJ: Elderly Siblings With 8th-Grade Educations Swindled In $500,000 Investment Scam
NJ: Elderly Siblings With 8th-Grade Educations Swindled In $500,000 Investment Scam A former investment adviser swindled four elderly New Jersey customers out of $529,780 that he used for gambling, meals and car payments, state authorities said. Three of the victims conned by Mario E. Rivero, Jr. were elderly siblings who had eighth-grade educations, couldn't speak or read English and had "diminished capacity," Acting New Jersey Attorney General Matthew J. Platkin said on Monday, March 14. Rivero -- who'd known the siblings for more than 10 years before becoming their financial professional -- told them and others that their money "would be invested in his mother's and fr…

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by Jerry DeMarco
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Mahwah Financial Advisor Siphoned $1 Million From 98-Year-Old Widow's Account, State Says Mahwah Financial Advisor Siphoned $1 Million From 98-Year-Old Widow's Account, State Says
Mahwah Financial Advisor Siphoned $1 Million From 98-Year-Old Widow's Account, State Says A financial adviser from Mahwah pocketed nearly $700,000 and diverted another $300,000 or so of a 98-year-old widow’s money, said state authorities who stripped him of his ability to operate any longer in New Jersey. John Joseph Cahill, 71, used the woman’s bank account to write and cash $693,990 worth of checks, state Attorney General Gurbir S. Grewal said Friday. Cahill also used the account to pay his daughter, his wife, and various others more than $300,000 to provide unexplained services to the woman, the attorney general said. Cahill had been granted power of attorney for the victim,…

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by Jerry DeMarco