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A New Jersey man has admitted to a scheme to defraud elderly and other victims out of more than $1 million that he told the victims he would invest on their behalf or otherwise use for their benefit.
Vincent D’Elia, 57, of Bergen County, New Jersey, pleaded guilty in federal court in Birmingham, Alabama to one count of conspiracy to commit wire fraud, in connection with the scheme.
According to the Department of Justice, D’Elia targeted the elderly and other vulnerable individuals, promising them high returns on their investments in exchange for money or other valuables.
Between 2019 and 2022, D’Elia allegedly stole over $1 million from his victims, using some of the money to fund his own lavish lifestyle, including purchasing a luxury vehicle and taking expensive vacations.
As part of his plea agreement, D’Elia faces a maximum sentence of 20 years in prison and a fine of up to $250,000. He is scheduled to be sentenced on April 15, 2024.
The case was investigated by the Federal Bureau of Investigation (FBI) and the United States Postal Inspection Service (USPIS), with the assistance of the New Jersey State Police.
The U.S. Attorney’s Office for the Northern District of Alabama praised the investigators for their work on the case, saying that it highlights the importance of holding individuals accountable for their crimes, particularly those that target vulnerable populations.
D’Elia’s guilty plea serves as a reminder of the devastating impact of investment scams on their victims, who often stand to lose their life savings.
As Grimy Times continues to investigate this case, we urge anyone who may have been a victim of D’Elia’s scheme to come forward and report their experiences to the authorities.
The Department of Justice encourages anyone who believes they may be a victim of investment fraud to contact them at www.justice.gov or 1-800-368-1019.
We will continue to provide updates on this case as more information becomes available.
Key Facts
- State: Alabama
- Agency: DOJ USAO
- Category: White Collar Crime|Fraud & Financial Crimes
- Source: Official Source â†â€â€ÂÂÂ
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