George Sepero of Glen Rock indicted in investment fraud scheme
Wednesday June 27, 2012, 5:59 PM
BY JAMES QUIRK
STAFF WRITER
The Record

A Newark grand jury indicted a Glen Rock man Wednesday for allegedly draining an elderly woman’s finances, and using fake hedge funds to run another multi-million dollar investment fraud scam.

The 17-count indictment charges George Sepero, 39, with one count of wire fraud conspiracy and 16 counts of wire fraud.

Sepero claimed to run New Jersey-based hedge funds using a “secret” computer program to invest in foreign currency – but instead took $4 million of investors’ money, which he used to purchase luxury vehicles, lavish trips all around the country, and “five-figure bar tabs,” according to a statement released by the U.S. Department of Justice.

Some of the fictitious investments invented by Sepero included Pelt Capital, Caxton Capital Management, SP Investors Inc., and CCP Pro Consulting, Inc., according to the indictment.

http://www.northjersey.com/news/Glen_Rock_man_indicted_in_investment_fraud_scheme.html

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