By: Richard L. Smith
The federal government’s continued efforts to crack down on financial fraud resulted in the arrest of Mr. Mark Csantaveri, a 51-year-old resident of Morristown, who faces serious charges for his involvement in a deceptive scheme that defrauded victims out of more than $3.4 million.
U.S. Attorney Philip R. Sellinger announced Wednesday that Csantaveri is charged with one count of conspiracy to commit wire fraud, following his initial court appearance before U.S. Magistrate Judge Edward S. Kiel in Newark federal court, where he was detained pending further proceedings.
Documents and court statements reveal that Csantaveri and his accomplices ran operations that falsely offered debt relief services to small businesses.
By convincing victims to transfer regular payments to his businesses under the pretense of negotiating with creditors for better settlement terms, Csantaveri instead diverted these funds for personal extravagance, including over $1 million in gambling activities.
The fraudulent scheme orchestrated by Csantaveri affected more than 50 individuals, leading to substantial financial losses totaling over $3.4 million.
The charge of conspiracy to commit wire fraud carries a severe penalty of up to 20 years in prison and a fine of up to $250,000 or twice the amount of the gross gain or loss from the offense, depending on which is higher.
The arrest and subsequent charges were the result of diligent investigations by special agents of the FBI, led by Special Agent in Charge James E. Dennehy in Newark.