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Fraudulent Investments

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Accountant Busted Boarding Plane At Newark Airport Admits Stealing $3.5M From Clients: Feds Accountant Busted Boarding Plane At Newark Airport Admits Stealing $3.5M From Clients: Feds
Accountant Busted Boarding Plane At Newark Airport Admits Stealing $3.5M From Clients: Feds A Massachusetts money manager who police arrested last month at Newark International Airport trying to escape prosecution admitted to stealing $3.5 million from his clients, including the entire life savings of an elderly couple, federal authorities said.  Steven Xigoros, 55, pleaded guilty in a Boston court this week to two counts of wire fraud, one count of aggravated identity theft, and one count of filing a false tax return, the US Attorney for Massachusetts said.  Xigoros worked as an accountant, tax preparer, and investment advisor who federal investigators said used th…

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by Josh Lanier
News
Jersey Shore Man Admits Stealing $230K From Friend In Fake Investment Scheme: Prosecutor Jersey Shore Man Admits Stealing $230K From Friend In Fake Investment Scheme: Prosecutor
Jersey Shore Man Admits Stealing $230K From Friend In Fake Investment Scheme: Prosecutor A 70-year-old man from Ocean County has admitted to stealing $230,000 from another man through fake investments, authorities said. John Hammond, of Ortley Beach, pleaded guilty to theft by deception, according to Ocean County Prosecutor Bradley D. Billhimer. An investigation by the Toms River Township Police Department Detective Bureau revealed that between May 2017 and February 2019, Hammond deceived a friend by convincing him to invest $230,000 with him, promising large returns on his investment, Billhimer said.  Over the course of nearly two years, the victim de…

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by Jon Craig
News
New Fraud Cases Name Relatives Of Imprisoned Father, Son Scammers From Mahwah, Saddle River New Fraud Cases Name Relatives Of Imprisoned Father, Son Scammers From Mahwah, Saddle River
New Fraud Cases Name Relatives Of Imprisoned Father, Son Scammers From Mahwah, Saddle River It seemed that state and federal prosecutors had thrown all they could at Bergen County’s George Bussanich and his son for a series of multi-million-dollar investment scams the past several years. But state authorities announced a new case Friday that also includes Bussanich's daughter and son-in-law as co-defendants. George Bussanich Sr., 62, of Park Ridge is already serving a 27-month federal prison stretch in Allenwood, PA for defrauding mortgage lenders and is due for release in 10 months. His son, George Bussanich Jr., 41, of Saddle River is up for parole this November from an eight-y…

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by Jerry DeMarco