Bank exec arrested for alleged investment fraud

President of New York Financial Company arrested on charges of wire fraud using a hedge fund model

In determining an actual sentence, the judge to whom the case is assigned would, upon a conviction, consult the advisory U.S. Sentencing Guidelines, which provide appropriate sentencing ranges that take into account the severity and characteristics of the offense, the defendant’s criminal history, if any, and other factors. The judge, however, is not bound by those guidelines in determining a sentence. Parole has been abolished in the federal system. Defendants who are given custodial terms must serve nearly all that time.

U.S. Attorney Fishman credited special agents of the FBI’s South Jersey Resident Agency, under the direction of Special Agent in Charge Janice K. Fedarcyk in Philadelphia, Pennsylvania, for the investigation leading to the criminal Complaint. He also thanked the Franklin Township Police Department and Middletown Township Police Department for their roles in the arrest.

The government is represented by Assistant U.S. Attorney R. Stephen Stigall of the Criminal Division in Camden, New Jersey.

The charges and allegations in the complaint are merely accusations, and the defendant is considered innocent unless and until proven guilty.