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Father and Son Team Sentenced to Prison for Defrauding Investors of Millions of Dollars

employee fraud

the staff of the Ridgewood blog

Park Ridge NJ, Attorney General Gurbir S. Grewal announced that a father and son were sentenced to prison today for defrauding investors in two successive multi-million dollar scams involving sales of bogus investments. After defrauding 26 investors in the first scam, the father and son agreed to pay $5.5 million, including $4 million in investor restitution, to settle a lawsuit filed by the New Jersey Bureau of Securities. They then proceeded to defraud 15 of the same investors of $3 million in a second scam.

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