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TRENTON
- Attorney General Anne Milgram announced
that a Jersey City man was sentenced to prison
for stealing nearly $1 million from victims
he fraudulently convinced to invest in a garment
and textile business that was not in operation.
According
to Criminal Justice Director Deborah L. Gramiccioni,
Radjinder Sewnath, 50, of Jersey City, was
sentenced to seven years in state prison by
Superior Court Judge Lourdes I. Santiago in
Hudson County.
Sewnath
pleaded guilty on June 22 to an accusation
filed by the Division of Criminal Justice
charging him with theft by deception and money
laundering, both in the second degree. He
must pay $975,237 in restitution to his victims
under a consent judgment filed in court today.
In
pleading guilty, Sewnath admitted that between
November 2005 and December 2008, he deceived
at least five victims into investing in his
company, Uni-Global Trading, Inc. in Jersey
City. The victims included the owners of two
Jersey City check cashing businesses. An investigation
by the Division of Criminal Justice Major
Crimes Bureau revealed that Sewnath stole
nearly $1 million from the investors.
Sewnath
claimed that Uni-Global Trading was an active
business that bought and resold garments and
distressed textiles. In reality, the business
was not operating at the time. At the plea
hearing, Sewnath admitted that, instead of
investing the victims’ money in the
business for their benefit, he deposited it
into his bank account and used it for his
personal expenses.
Detective
Martin Farrell and Deputy Attorney General
Francine Ehrenberg were assigned to the investigation
for the Division of Criminal Justice Major
Crimes Bureau. Deputy Attorney General Ehrenberg
took the guilty plea. Supervising Deputy Attorney
General Edward R. Bonanno handled the sentencing.
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