A Bronx man who allegedly funneled money through a Ponzi scheme run by an attorney in New Jersey is now facing time in the slammer.
Back in February, Bergen County detectives began getting complaints from multiple investors about Chander Singh Esq. and his company SC Capital Investors LLC. The investors alleged that Singh’s company owed them money from “various real estate transactions.” The investigation found that Singh and SC Capital Investors, a failed real estate renovation company, engaged in a “Ponzi-like scheme,” promising investors “double digit returns.”
The scheme involved Jerez creating a front company called A Jerez Realty LLC, which utilized SC Capital Investors LLC “as a way to obscure illicit proceeds generated by a cellular telephone business in an amount greater than $75,000 in an effort to make the funds appear legitimate.”
Authorities arrested Jerez on Dec. 7 and charged him with money laundering conspiracy, evading a transaction reporting requirement conspiracy and committing money laundering with the purpose of facilitating a crime conspiracy.
Jerez is currently being held in Bergen County Jail pending his first appearance in Central Judicial Processing Court.