file photo by Boyd Loving
SEPTEMBER 8, 2015 LAST UPDATED: WEDNESDAY, SEPTEMBER 9, 2015, 8:03 AM
BY KATHLEEN LYNN
STAFF WRITER |
THE RECORD
Within weeks after they agreed to pay $5.5 million to settle allegations of investment fraud, a Bergen County father and son began selling bogus investments again, state authorities said Tuesday.
George Bussanich of Park Ridge and his son, George Bussanich Jr. of Saddle River, settled state allegations of defrauding 26 investors in August 2014. Then – although the settlement barred them from selling investments – they almost immediately solicited $3 million from 15 of the same investors, the state attorney general said Tuesday.
“The audacity of these defendants is astounding,” said Acting Attorney General John J. Hoffman in a statement. “After the Bureau of Securities exposed how this father and son deceived investors, securing a $5.5 million settlement against them, the defendants allegedly went right back to their old game, defrauding investors of another $3 million and even using some of the new funds to make payments under the settlement.”
WWOOOWWWW…now that’s a fine example of flaunting the law!
You have to use your skill set, whatever it is. Maybe they felt that they were born to do this. It was a calling.
Flouting the law, not flaunting.