George Bussanich—Ponzi Scheme
George Bussanich Sr Allegedly Operated a $7 Million Family-run Ponzi Scheme in New Jersey
George Bussanich, along with his wife, son and five others, allegedly operated a $7 million Ponzi scheme in New Jersey, according to Reports from the New Jersey attorney general currently under review by attorneys Jason Kane and James Booker.
Several Peiffer Wolf Carr & Kane securities practice lawyers are investigating investment recovery options on behalf of investors in Bussanich’s alleged investment fraud.
Investors who believe they may have lost money in Bussanich’s alleged investment fraud funds are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.
Bussanich, of Bergen County, allegedly defrauded 26 investors in a pattern of multi-million dollar scams, according to the aforementioned Reports.
The alleged scams allegedly involved the sale of purportedly fraudulent or bogus investments, the Reports note.
In total, Bussanich and his family members allegedly conspired with other persons to take more than $7 million from potential investors and also allegedly used the cash on luxury items including fancy automobiles, the Reports state.
The spectrum of investor has also come into play. For example, Elie Honig, the director of the state Division of Criminal Justice, states that Bussanich and his son and wife allegedly targeted the elderly in what he deems, “classic Ponzi-scheme fashion”, according to reports from New Jersey.
The Peiffer Wolf Carr & Kane securities lawyers are investigating George Bussanich’s alleged Ponzi scheme.
George Bussanich and Son Allegedly Sold Unregistered Investment Notes for a Fictitious Surgical Center that Was Purportedly Simply a Holding Company; Dividend Payments were Allegedly Produced from Principal Funds
George Bussanich and his son allegedly sold unregistered investment notes for a fictitious surgical center that was purportedly simply a holding company, according to Reports from the New Jersey attorney general presently under review by attorneys Jason Kane and James Booker.
What is more, dividend payments were allegedly produced from principal funds, said Reports notes. Such behavior is a red flag for investors and often the telltale sign of a Ponzi scheme.
Even though the family was charged in September 2015 after making a settlement over an alleged case of fraud for $5.5 million, authorities further claim that they soon allegedly started another scheme which purportedly preyed on many of the supposed victims of the first case, according to Reports from New Jersey.
In total, eight individuals were indicted on a scope of charges including alleged conspiracy, racketeering and money laundering, Reports from New Jersey note.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating George Bussanich’s alleged Ponzi scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at email@example.com or firstname.lastname@example.org.