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Middlesex County Men Indicted In Alleged $7M Fuel Investment Scheme: AG
A New Jersey grand jury has indicted two Middlesex County men for allegedly defrauding fuel investors out of approximately $6.7 million, authorities said.
The scheme used sham companies and false identities to deceive investors into believing they would receive large guaranteed returns from investments in fuel products, according to Attorney General Matthew J. Platkin.
Instead, the defendants diverted investor funds for their own benefit, Platkin said.
Shahid Javed, 39, of Old Bridge, and Wilfredo Topacio, 64, of Woodbridge, were charged in an indictment with first-degree conspiracy, …
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…
