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South Jersey Woman Stole $675K In Investment Scheme: Prosecutor
A 59-year-old woman from South Jersey has admitted to defrauding a woman out of $600,000 and then stealing her identity, authorities said.
Wei Song, 59, of Egg Harbor Township, faces 16 years in New Jersey State Prison under her plea agreement on money laundering and identity theft charges, according to the Atlantic County Prosecutor's Office.
This case involved a multi-year social engineering scheme that resulted in financial losses of over $600,000 from one victim and over $75,000 in identity theft damages, the prosecutor said. The defendant preyed upon the victim, convincing he…
Passaic County Adviser Conned Investors Out Of $471,602, State Authorities Charge
An investment adviser from Passaic County stole $471,602 from two dozen investors he recruited for an unregulated commodities trading group, state authorities charged.
The business he the Think Big Institute was failing when Scott Nicholson, 53, of North Haledon, began to “misappropriate investor monies by withdrawing existing investment monies and new investments for his personal benefit,” state Attorney General Gurbir S. Grewal said.
Over the course of five years, Nicholson transferred $373,823 in investment money to his personal checking account and paid $271,129 worth of personal expens…