the staff of the Ridgewood blog
Fort Lee NJ, Bergen County Prosecutor Mark Musella announced the arrest of GIUSEPPE VALENTINO (DOB: 02/13/1968; single; unemployed) of 34 Desbrosses Street, Apartment 917, New York, NY, on charges of Money Laundering, Theft By Deception, and Falsifying Records. The arrest is the result of an investigation conducted by the Bergen County Prosecutor’s Office under the direction of Chief Robert Anzilotti and the Fort Lee Police Department under the direction of Chief Matthew Hintze.
On Thursday, December 12, 2019, detectives from the Bergen County Prosecutor’s Office Financial Crimes Unit received information from the Fort Lee Police Department regarding a fraud reported to them by a Bergen County resident. The fraud involved the solicitation of investors in a Ponzi-like scheme. The subsequent joint investigation revealed that VALENTINO had solicited multiple investors in his company, Rhineau LLC, by representing that he had developed a proprietary algorithm for the execution of binary options. During a period of approximately one year, VALENTINO solicited over $500,000 in investor funds. He then used investor funds for his own personal expenses, conducting no investment activity. The investigation also revealed that VALENTINO was on federal probation for similar offenses. On March 6, 2020, a warrant was issued for VALENTINO’s arrest. These new charges also resulted in the violation of VALENTINO’s federal probation status.
On Tuesday, September 22, 2020, VALENTINO was taken into custody in New York by the United States Marshals Service.
GIUSEPPE VALENTINO was charged with one count of Money Laundering, in violation of N.J.S.A. 2C:21-25b(1), a 1st degree crime; one count of Theft By Deception, in violation of N.J.S.A. 2C:20-4, a 2nd degree crime; and one count of Falsifying Records, in violation of N.J.S.A. 2C:21-4a, a 4th degree crime. VALENTINO is currently awaiting extradition to New Jersey.
Prosecutor Musella states that the charges are merely accusations and that the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt, and he would like to thank the United States Marshals Service.