Trenton, NJ – A despicable scheme that spanned over three decades has landed Vincent Dispoto Jr., 68, of Belmar, New Jersey, behind bars for 151 months. The elderly and other unsuspecting investors lost over $6 million to Dispoto’s fraudulent investments.
Dispoto, owner of Giddeon Financial Services, lured victims with promises of safe, high-return investments in municipal bonds and certificates of deposits. He exploited his victims’ trust, misleading them into believing their money was securing loans for medical professionals, generating lucrative interest payments.
The truth was a horror show: Dispoto used the funds to pay off other investors, while pocketing the rest for gambling and personal indulgences. His deceitful financial statements led to a total of $6 million in losses. On August 26, 2025, U.S. District Judge Zahid N. Quraishi sentenced Dispoto to prison and ordered him to pay $6,083,419.84 in restitution.
Special agents of the FBI’s Newark office, directed by Special Agent in Charge Stefanie Roddy, were instrumental in bringing Dispoto to justice. Assistant U.S. Attorney Jennifer Kozar represented the government in this Economic Crimes Unit case.
Dispoto will also serve three years of supervised release after his prison term and was ordered to pay a $6,990,635.62 forfeiture judgment.
The defense was handled by Areeb Salim, Esq., and John Yauch, Esq., Assistant Federal Public Defenders in Newark.
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Key Facts
- State: New Jersey
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes|White Collar Crime|Organized Crime
- Source: Official Source ↗
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