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A confessed Somerset County con man is headed to federal prison for 6½ years for swindling elderly investors out of $2 million that he used, in part, to pay for his daughter’s college tuition and sorority fees.
For nearly a decade, ex-financial advisor Daniel Rivera, 51, told primarily elderly investors that his Robbins Lane Properties was “staffed by experienced real estate professionals, Acting U.S. Attorney Rachael A. Honig said.
Rivera promised a “guaranteed monthly income” thanks to a rate of return based on secure investments, she added.
The truth, Honig said, was: “Robbins Lane had no employees, no real estate portfolio, and the monies used to pay investors as a purported return on their investments was from funds he received from other investors.
NJ Con Man Who Swindled Elderly Out Of $2M Headed To Fed Pen dailyvoice.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyvoice.com Daily Mail and Mail on Sunday newspapers.
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A Bergen County man admitted collecting tax refunds by using stolen identities to pose as 18 different people.
Emmanuel A. Barrientos-Fermin, 33, of Tenafly told a federal judge via videoconference in Newark on Tuesday that he gave an unnamed co-conspirator a photo of himself.
The accomplice then produced bogus driver’s licenses with his picture on them, he said.
The co-conspirator also gave him matching Social Security cards, driver’s licenses and W-2 forms – even birth certificates, Barrientos-Fermin said.
Armed with the documents, Barrientos-Fermin said, he went to various tax preparing companies posing as taxpayers to file returns.
He collected advance-refund debit cards, then gave them to the accomplice, who paid him $200 for each, Barrientos-Fermin said.