Mark Moskowitz, Ponzi Scheme, New Jersey 2023

An investment manager with ties to Short Hills, New Jersey, has been sentenced to 33 months in prison for his role in a $675,000 Ponzi scheme, authorities announced.

Mark Moskowitz, 48, of Short Hills, was sentenced by U.S. District Judge Katharine S. Hayden in Newark federal court after previously pleading guilty to one count of wire fraud.

Moskowitz controlled an investment fund under the names Edge Trading Partners L.P. and Edge Trading LLC (Edge Trading), which he created and operated starting in or around 2012. He told investors that Edge Trading was invested in U.S. and foreign equities, futures contracts, and option contracts, and that the fund's investments continued to show positive returns.

However, Moskowitz redirected investor money to his personal use, which he concealed from the investors. In addition to the prison term, Judge Hayden sentenced Moskowitz to three years of supervised release and ordered restitution and forfeiture of $694,577.

The case was investigated by the FBI, under the direction of Special Agent in Charge Timothy Gallagher, and the N.J. Bureau of Securities in the State Attorney General's Office, under the direction of Attorney General Christopher S. Porrino and Acting Bureau Chief Amy Kopleton.

Assistant U.S. Attorney Jason S. Gould represented the government in the case. Defense counsel was David Holman Esq., Assistant Federal Public Defenders, Newark.

Source: https://www.justice.gov/usao-nj/pr/short-hills-new-jersey-investment-manager-sentenced-33-months-prison-675000-ponzi-schem-0