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NY Woman Sentenced After Defrauding NJ Investors Out of Thousands of Dollars

By kcora on
New York New Jersey

A New York woman was sentenced to 27 months in prison for running an investment scheme that defrauded victims of hundreds of thousands of dollars, U.S. Attorney Craig Carpenito announced.

Officials say Alisa Adler, 58, previously pleaded guilty before U.S. District Judge Claire C. Cecchi to an information charging her with two counts of wire fraud. Judge Cecchi imposed the sentence on April 16, 2019, in Newark federal court.

According to documents filed Information:

From January 2009 through August 2014, Adler took loans and investments from multiple victims and told them that their money would be used for certain specified investments through her company, ASG Real Estate Services Group Inc. To induce potential investors to give her money, Adler provided them with promotional materials and other documents, and told them that their money would be repaid within a certain amount of time.

Officials say Adler did not use the majority of invested funds for the specific real estate investments she had presented to the victims. Instead, she used it to, among other things, repay prior investors and pay her own personal expenses.

In addition to the prison term, Judge Cecchi sentenced Adler to three years of supervised release and ordered her to pay restitution of $1,254,000.