February 27, 2024
The CEO of a Garden State real estate investment fund pled guilty in New Jersey federal court on Tuesday to defrauding more than 2,000 investors through a $658 million Ponzi scheme, while also evading millions of dollars in tax liabilities, according to federal prosecutors.
October 13, 2022
Two operators of a New Jersey real estate investment fund have been accused of misappropriating $650 million in investor funds as part of a purported Ponzi scheme, prosecutors said Thursday.