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Iselin Man Ran $1 Million Bogus Sugar Investment Scheme: Feds Iselin Man Ran $1 Million Bogus Sugar Investment Scheme: Feds
Iselin Man Ran $1 Million Bogus Sugar Investment Scheme: Feds A 64-year-old Middlesex County man admitted on Thursday, Jan. 23, to defrauding people in South Korea via a bogus investment scheme involving sugar, authorities said. Mohammed Rahman, an Iselin resident, ran Caltech Trading Corporation, through which he purported to buy and sell commodities, Acting U.S. Attorney Vikas Khanna said. Rahman and other individuals in South Korea persuaded approximately 60 victims there to invest funds purportedly towards the purchase of $1 million of sugar from Brazil, which Caltech would then sell for a substantial profit, Khanna said.  Rahman and his…

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by Sam Barron
Business
American Express To Pay $230M For Misleading Small Business Customers American Express To Pay $230M For Misleading Small Business Customers
American Express To Pay $230M For Misleading Small Business Customers American Express said it will pay $230 million to resolve federal investigations into deceptive sales tactics and recordkeeping violations involving small business credit card and wire transfer products. The credit card company agreed to pay a $108.7 million civil penalty, the Department of Justice said in a news release on Thursday, Jan. 16. The settlement resolved claims against American Express of deceptive marketing and "dummy" account information. American Express was accused of engaging in unlawful sales tactics and falsifying records between 2014 and 2021. "When financial companies …

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by Chris Spiker
Police & Fire
Father, Son Admit To Using South Jersey Deli In $100M Stock Inflation Scheme: Feds Father, Son Admit To Using South Jersey Deli In $100M Stock Inflation Scheme: Feds
Father, Son Admit To Using South Jersey Deli In $100M Stock Inflation Scheme: Feds A quiet deli in Paulsboro became the unlikely focal point of a $100 million stock manipulation scheme led by a father and son, authorities said. Peter Coker Sr., 82, of Chapel Hill, North Carolina, and his son, Peter Coker Jr., 56, pleaded guilty on Thursday, Dec. 19 to securities fraud and conspiracy to commit securities fraud, New Jersey's U.S. Attorney Philip Sellinger said in a news release. Coker Jr. is a former resident of Hong Kong. Prosecutors said the plan started around 2014 when two New Jersey residents opened Your Hometown Deli on Mantua Avenue. The pair soug…

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by Chris Spiker
Police & Fire
North Brunswick Soda Exec Confesses To Sharing Secret Formulas With Competitors, Feds Say North Brunswick Soda Exec Confesses To Sharing Secret Formulas With Competitors, Feds Say
North Brunswick Soda Exec Confesses To Sharing Secret Formulas With Competitors, Feds Say An executive from North Brunswick admitted to sharing secret soda formulas with his company's competitors, authorities said. Andrew Blum, 63, pleaded guilty on Tuesday, Nov. 12 to conspiracy to possess stolen trade secrets and possession of stolen trade secrets, New Jersey's U.S. Attorney Philip Sellinger said in a news release. Blum was the vice president of product development for an unnamed North Jersey-based maker of oil products and proprietary flavors from 2013 until Wednesday, Dec. 12, 2018. The parent corporation of Blum's company was one of the world’s largest produc…

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by Chris Spiker
Police & Fire
Jersey Shore Business Owner Admits To Keeping Nearly $1M In Employees Taxes From IRS: Feds Jersey Shore Business Owner Admits To Keeping Nearly $1M In Employees Taxes From IRS: Feds
Jersey Shore Business Owner Admits To Keeping Nearly $1M In Employees Taxes From IRS: Feds A Brick Township construction company owner admitted to withholding his employees' taxes and not paying the money to the IRS, authorities said. Gerard Artz, 44, pleaded guilty on Thursday, Sept. 26 to failure to collect and pay over taxes, New Jersey's U.S. Attorney Philip R. Sellinger announced. He was the owner of Prime Installations, which operated in Brick and New York City. According to court documents and statements, Artz directed his company to withhold employment taxes from the company’s employees’ paychecks between 2016 and 2020. Prime Installations failed …

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by Chris Spiker
Police & Fire
Plainsboro Man Sexually Assaulted Two Children, Uploaded Pics On Dark Web: Feds Plainsboro Man Sexually Assaulted Two Children, Uploaded Pics On Dark Web: Feds
Plainsboro Man Sexually Assaulted Two Children, Uploaded Pics On Dark Web: Feds A Plainsboro man was accused of sexually assaulting two children and uploading pictures of the abuse on the dark web, authorities said. Anthony Lagotta Jr., 54, was charged with one count each of production and possession of child pornography, New Jersey's U.S. Attorney Philip Sellinger said in a news release on Tuesday, Aug. 20. He appeared in front of a federal judge and was detained. According to court documents and statements, Lagotta sexually assaulted two children and took photos of what happened about 15 years ago. He then uploaded 30 of the pictures to a child po…

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by Chris Spiker