A Florida man will be going to prison after he was convicted of defrauding a company in Bergen County, NJ.
According to the U.S. Attorney’s Office, the suspect provided factoring businesses with fake invoices so that he could commit fraud and steal money. The defrauded companies were located in Las Vegas, California, and Bergen County New Jersey.
The suspect reportedly worked out deals with the businesses and sold them accounts receivable; in return, he got short-term financing. However, it turned out that the suspect’s transportation company did not actually exist.
The suspect reportedly got away with more than $220K as a result of his fraud.
Law enforcement eventually received a tip about the suspect’s criminal actions. The 61-year-old Florida man was subsequently arrested and charged with wire fraud.
The suspect is now headed to a federal prison after receiving a sentence of four years. The suspect recently made an appearance in US District Court for a formal sentencing hearing.
In addition to receiving a prison sentence of four years, the suspect will also be on supervised release for a period of three years after he completes his term of incarceration. Additionally, the suspect was ordered to pay restitution to the defrauded businesses.
For additional information about this case, view the NJ.com article, “Man Gets 4 Years after Scamming Bergen Biz Out of $220K.”