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Hackensack man arrested in $2M fraud scheme

June 16, 2011
Total Loss: $2 Million

FBI agents Wednesday arrested a Hackensack-based day trader on charges of bilking $1.5 million from a Cleveland bank in a student-loan scam and $500,000 from investors in a commodity pool Ponzi scheme, using some of his ill-gotten gains to pay for hair salon visits and a Harley.

Source: North Jersey News
Posted in: New Account Fraud
Tags: bank fraudloan fraud