Two men from South Jersey, one from Burlington County and the other from Camden County, along with a man from Michigan, have been charged with conspiring to defraud at least 43 victims out of more than $3 million through the sale of phony business opportunities.
U.S. Attorney Craig Carpenito announced late last week that 61-year-old David Weinstein, formerly of Cherry Hill and now of Dallas; 45-year-old Vijay Vanam Reddy of Milan, MI; and 61-year-old Kevin Brown of Burlington, are each charged by complaint with one count of conspiracy to commit wire fraud.
All three men were arrested last week.
According to documents filed in this case along with statements made in court:
Camden, NJ - A Burlington County resident and a former Camden County resident are among three men charged with conspiring to defraud at least 43 victims out of more than $3 million through the sale of phony business opportunities.
David Weinstein, formerly of Cherry Hill, New Jersey, and now of Dallas, Texas; Vijay Vanam Reddy, of Milan, Michigan, and Kevin Brown, of Burlington, New Jersey, are each charged by complaint with one count of conspiracy to commit wire fraud. Reddy was arrested today and is scheduled to appear in Detroit, Michigan, federal court this afternoon. Brown and Weinstein were arrested on Dec. 8, 2020. Brown appeared before U.S. Magistrate Judge Ann Marie Donio in Camden federal court via videoconference on Dec. 8, 2020, and was released on $50,000 bond. Weinstein appeared before U.S. Magistrate Judge Rebecca Rutherford in Dallas federal court on Dec. 9, 2020 and was released.
US: Indian-American, 2 others arrested in $3 million fraud case in Michigan
US: Indian-American, 2 others arrested in $3 million fraud case in Michigan
An Indian-American from US s Michigan has been arrested on charges of conspiring to defraud at least 43 victims of more than $3 million through sale of phoney business opportunities.
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File image for representation: Reuters
An Indian-American from US s Michigan has been arrested on charges of conspiring to defraud at least 43 victims of more than $3 million through sale of phoney business opportunities, news agency PTI reported a US attorney as saying.
The Indian-American has been arrested along with two others.
David Weinstein (61), Vijay Vanam Reddy (45), and Kevin Brown (61) have been charged with one count of conspiracy to commit wire fraud.
It identifies the Route 73 business, acquired by Weinstein in 2012, as once a legitimate brokerage firm.
The third defendant, 45-year-old Vijay Vanam Reddy of Milan, Michigan, was described to investors as a marketing genius who formerly operated a medical billing and answering service business. Investors also were told Reddy had a special talent for finding doctors offices in need of business services, the complaint says.
It alleged the men ran online ads that offered to sell contracts with medical providers who wanted to outsource office chores like billing.
The men allegedly guaranteed a profitable client base and provided fake references to investors.