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Oradell Woman Charged with Theft for Ponzi-Like Scheme

By kbm0423 on

Bergen County Prosecutor Mark Musella announced the arrest of Suzette R. Hart, 54, of Oradell on the charge of Theft By Deception. The arrest is the result of an investigation conducted by the Bergen County Prosecutor’s Office, the Bergen County Sheriff’s Office and the Oradell Police Department.

According to officials, on Tuesday, May 7, 2019, detectives from the Bergen County Prosecutor’s Office Financial Crimes Unit received information from complainants that a Bergen County resident was soliciting investors in a Ponzi-like scheme.

An investigation revealed that Hart had solicited multiple investors for various high-yield, well-known investment opportunities knowing that the investments were fraudulent.

The investigation found that Hart then disbursed money from one investor to other investors, which reinforced the deception that the investor’s money had been properly invested and was producing a profit.

Officials report that during a period of approximately five years, Hart solicited over $300,000 in investor funds, which she used for her own personal expenses while conducting no investment activity.

On Tuesday, October 13, Hart was arrested and charged with one count of Theft By Deception.

She was released on a summons pending her first appearance in Central Judicial Processing Court in Hackensack.

Prosecutor Musella states that the charge is merely an accusation and that the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.