Man holding dollar bills roll, corruption payment, dirty money, financial fraud
PHILADELPHIA, Pa. — A Burlington County, New Jersey man was sentenced to 37 months in federal prison for his involvement in two fraudulent business schemes that defrauded investors of approximately $550,000. Michael Salerno, 55, of Mount Laurel, New Jersey, was sentenced by U.S. District Court Judge Paul S. Diamond and was ordered to pay restitution totaling $549,835.
Salerno pleaded guilty in February 2023 to three counts of wire fraud after being indicted in September 2020. His fraudulent activities spanned from September 2016 to at least December 2019, during which he operated a series of businesses, including Black Diamond Forex, L.P., BDF Trading, L.P., Advanta Capital Markets, Inc., and Advanta FX, all of which falsely claimed to engage in foreign currency trading.
Salerno used a series of misrepresentations to lure victims into paying advance fees, often exceeding $1,000, with the promise that they would gain access to a $10 million trading pool and share in any profits. None of these claims were true. To maintain the facade, Salerno portrayed himself as a successful businessman, despite having previously declared bankruptcy twice and having been evicted multiple times for failing to pay rent. He also failed to disclose a prior federal conviction for tax fraud, for which he served 21 months in prison.
After the Commodity Futures Trading Commission obtained an injunction against Salerno in 2018, he immediately transitioned to a second fraudulent scheme. From May 2018 to December 2019, Salerno operated AccuOne Financial, Inc., which claimed to help clients exit unwanted automobile leases and offer leasing and credit repair services to those with poor credit. Instead, Salerno misused the vehicles from clients looking to exit their leases, failed to make lease payments, and then leased the vehicles to other clients under false pretenses. This scheme resulted in further financial losses for both sets of clients, with many facing ongoing lease payments for cars they no longer had or experiencing severe damage to their credit.
“Michael Salerno is a modern-day snake oil salesman,” said U.S. Attorney Jacqueline C. Romero. “Today’s sentence holds him accountable for the harm he’s caused and brings a measure of justice for his victims.”
Wayne A. Jacobs, Special Agent in Charge of the FBI Philadelphia Division, added, “Under the guise of a businessman, Salerno was truly a criminal, devising schemes built on manipulation and lies. The FBI will continue to rigorously pursue those who attempt to enrich themselves through fraudulent means.”
Salerno’s schemes collectively defrauded investors and clients of more than half a million dollars, and today’s sentence aims to provide justice for those affected by his fraudulent activities.
Man Charged in Fatal Domestic Dispute in Capitol Heights
CAPITOL HEIGHTS, Md. — Prince George's County Police have charged Rene Pop Chub, 32, in connection with the death of his brother, Crisantos Pop Chub, 45, following a domestic-related altercation. The incident occurred on August 16, 2024, on the 500 block of Shady Glen Drive.
Officers responded to a report of a fight at approximately 11:30 p.m. Upon arrival, they found Crisantos Pop Chub unconscious and another man, also injured, lying outside. Both were transported to a nearby hospital. Crisantos Pop Chub succumbed to his injuries on August 30, 2024.
Preliminary investigations indicate that Rene Pop Chub pushed his brother during an argument, causing him to fall and strike his head. The second victim's injuries were described as non-life-threatening.
Rene Pop Chub has been charged with second-degree murder and is currently held without bond at the Department of Corrections. Authorities are urging anyone with additional information to contact detectives at 301-516-2512.
32-Year-Old Man Arrested for Attempted Armed Robbery in BaltimoreBALTIMORE, Md. — A 32-year-old man was arrested on Sunday evening following an attempted armed robbery at a business in the Western District. The incident occurred around 6:01 p.m. in the 2400 block of Liberty Heights Avenue.
According to the Baltimore Police Department, the suspect entered the business and attempted to use a weapon to intimidate employees into handing over money. However, his attempt was unsuccessful, and he fled the scene.
Officers responding to the call for the armed robbery quickly apprehended the suspect nearby. He was arrested and transported to the Central Booking Intake Facility, where he was charged in connection with the attempted robbery.
The investigation is ongoing as authorities continue to review the circ*mstances surrounding the incident.
Wilkes-Barre Woman Arrested for Assault in West Maple Street Domestic DisputeWILKES-BARRE, Pa. — A 34-year-old Wilkes-Barre woman was arrested early Saturday morning following a domestic dispute on West Maple Street in which she allegedly assaulted a man with a bar stool.
Officers from the Wilkes-Barre City Police Department were dispatched to a residence at approximately 3:03 a.m. on August 31, 2024, in response to a reported domestic dispute. Upon arrival, they made contact with the 39-year-old male victim, who stated that a verbal altercation with the defendant, identified as Medina fa*gan, escalated into physical violence.
The victim reported that fa*gan struck him in the head with a bar stool during the confrontation. Following the victim's account, officers took fa*gan into custody at the scene.
fa*gan was subsequently transported to City Headquarters for arraignment. The investigation into the incident remains ongoing.
