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Case Number: 3:18-cr-00443-AET
Judge: Anne E. Thompson
Court: United States District Court for the District of New Jersey (Mercer County)
Plaintiff's Attorney: United States District Attorney’s Office
Description: Trenton, New Jersey criminal lawyer represented defendant who was charged with wire fraud and subscribing to a false tax return.
Daniel Rivera, 51, of Hillsborough, New Jersey, a former financial advisor, previously pleaded guilty before U.S. District Judge Anne E. Thompson to a superseding information charging him with one count of wire fraud and one count of subscribing to a false tax return. Judge Thompson imposed the sentence today in Trenton federal court.
Defendant engaged in a $2 million Ponzi scheme targeting elderly investors and for subscribing to a false tax return.
According to documents filed in this case and statements made in court:
From 2008 through 2017, Rivera solicited primarily elderly investors to invest their money in a company called Robbins Lane Properties Inc. Rivera represented to investors that Robbins Lane was a company staffed by experienced real estate professionals that invested in real estate ventures. Rivera told investors that by investing in Robbins Lane, senior investors would share in the company’s investment portfolio by lending it money to invest in real estate. Rivera further promised investors that they would receive a guaranteed monthly income, and that the company’s rate of return was based on secure real estate investments in the company’s portfolio. In reality, Robbins Lane had no employees, no real estate portfolio, and the monies used to pay investors as a purported return on their investments was from funds he received from other investors. Rivera also used funds sourced from investors to pay his personal and unrelated business expenses, including paying his child’s college tuition and sorority fees.
During the course of the fraudulent scheme, on March 5, 2014, Rivera filed with the IRS a federal income tax return that underreported his taxable income by $33,276.
In addition to the prison term, Judge Thompson sentenced Rivera to three years of supervised release and ordered him to pay restitution of $1.47 million to his victims and $284,863 to the IRS.
Acting U.S. Attorney Honig credited special agents of the FBI, under the direction of Special Agent in Charge George M. Crouch Jr. in Newark, and special agents of the IRS-Criminal Investigation, under the direction of Special Agent in Charge Michael Montanez in Newark, with the investigation leading to today’s sentencing.
The government is represented by Assistant U.S. Attorney Perry Farhat of the Government Fraud Unit in Newark.
Outcome: Defendant was sentenced to 78 months in prison.