Essex County News

Short Hills Investment Manager Sentenced to Prison

ade9e3419727de6e2c43_4ef4a995644716158c7d_4af75e9fa3691a89b481_b14800054c7101f68a49_14d0859.jpg
Mark Moskowitz, 48, of Short Hills. Credits: TAPinto Millburn and Short Hills
ade9e3419727de6e2c43_4ef4a995644716158c7d_4af75e9fa3691a89b481_b14800054c7101f68a49_14d0859.jpg

NEWARK, N.J. – An investment manager with an office in Short Hills, New Jersey, was sentenced today to 33 months in prison for that he fraudulently inducing investments, concealing investment losses, and diverting more than $675,000 in investor money for his own use, Acting U.S. Attorney William E. Fitzpatrick announced. 

Mark Moskowitz, 48, of Short Hills, previously pleaded guilty before U.S. District Judge Katharine S. Hayden to an information charging him with one count of wire fraud. Judge Hayden imposed the sentence today in Newark federal court. 

In a separate legal proceeding, the N.J. Bureau of Securities ordered Moskowitz and his trading company, Edge Trading LLC, to pay a $1 million civil penalty for selling unregistered fraudulent securities and misusing investors’ funds for personal expenses. 

Sign Up for E-News

According to documents filed in this case and statements made in court: Moskowitz controlled an investment fund under the names Edge Trading Partners L.P. and Edge Trading LLC (Edge Trading). In addition to touting his investment skill and experience, Moskowitz concealed losses from investors and falsely told them that Edge Trading was growing year after year. Based on these misrepresentations, investors continued to entrust additional funds to Moskowitz and left previous investments under his control. 

Edge Trading was an investment fund that Moskowitz created and operated, starting in or around 2012. Moskowitz told investors that Edge Trading was invested in U.S. and foreign equities, futures contracts, and option contracts and that the fund’s investments continued to show positive returns. In reality, Moskowitz redirected investor money to his personal use, which he concealed from the investors. 

In addition to the prison term, Judge Hayden sentenced Moskowitz to three years of supervised release and ordered restitution and forfeiture of $694,577. 

Acting U.S. Attorney Fitzpatrick credited special agents of the FBI, under the direction of 2 Special Agent in Charge Timothy Gallagher, with the investigation leading to today’s sentencing. He also thanked the N.J. Bureau of Securities in the State Attorney General’s Office, under the direction of Attorney General Christopher S. Porrino and Acting Bureau Chief Amy Kopleton, for its assistance in the investigation. 

The government is represented by Assistant U.S. Attorney Jason S. Gould of the U.S. Attorney’s Office Criminal Division in Newark. 17-291 

### 

Defense counsel: David Holman Esq., Assistant Federal Public Defenders, Newark

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News

Verona/Cedar Grove

Essex County Undersheriff Kevin Ryan dies

June 21, 2018

Kevin Ryan, a former Assemblyman from Nutley who served as an Essex County Undersheriff, has died.

Ryan, 49, served for nearly two decades in the Essex County Sheriff's Office, rising to the rank of undersheriff. He also served a year beginning in January 2011 as State Assemblyman before redistricting changes.  

Ryan was a close confidante of Essex County Sheriff ...

Cedar Grove Police Blotter

June 18, 2018

On June 14, 2018 at 12:13 a.m., Ptl. Nicole Witel stopped a vehicle after a random license plate check revealed that the registration was suspended. A subsequent investigation led to the arrest of a 23 year old male driver from Montclair for driving while suspended. He was processed and released with a summons to appear in municipal court.

On June 16, 2018 at 7:00 a.m., Ptl. Raymond Cassella ...

NJ Teen Steers His Mustang Into Tractor Supply Store

June 20, 2018

MONROE TWP., N.J. — James Duffey, 18 of Garwood, drove his 2014 mustang through the doors of the Tractor Supply in Monroe Township, N.J. on Tuesday, June 12, about 12:30 p.m.

But it isn't what you think. Duffey is a lot like other high school Seniors. He likes to go out with his friends for a soda. In Duffey's case, his friend is a 4-year-old American Mustang he named "Star ...

Upcoming Events

Carousel_image_b4f18dfd4f07fd561026_letslisten7-ellington-mplspecs-revised

Fri, June 22, 6:00 PM

Montclair Public Library Auditorium, Montclair

Let's Listen to Jazz

Arts & Entertainment

Fri, June 22, 8:00 PM

Education Center, West Orange

Night Moves: Evening Guided Zoo Tours

Education Other

Carousel_image_5e177eaae57739064cd4_397f63ad2fb50392a776_29178074_2107642336134787_2638697507160326144_n

Sun, June 24, 11:00 AM

Totowa

MakerFest 2018

Education

Cedar Grove Seeks Zoning Board Members

June 19, 2018

CEDAR GROVE, NJ - The Township Council requests any residents who wish to be considered for membership on the Zoning Board of Adjustment to submit a letter of interest by Wednesday, July 11, 2018, to the Clerk’s Office, 525 Pompton Avenue, Cedar Grove, NJ 07009 or townclerk@cedargrovenj.org . Kindly include address and telephone number on correspondence. Contact the Clerk’s Office at ...