Middletown, New Jersey, Investment Manager and Former Fire Chief Sentenced to 15 Years in Prison for

Middletown, New Jersey, Investment Manager and Former Fire Chief Sentenced to 15 Years in Prison for Running Ponzi Scheme to Steal More Than $10 Million


NEWARK, N.J. – An investment manager with an office in Middletown, New Jersey, was sentenced today to 180 months in prison for running a Ponzi scheme, concealing losses, faking investment returns, and stealing more than $10 million in investor money, U.S Attorney Craig Carpenito announced today.

Vincent P. Falci, 59, of Middletown, was convicted Dec. 13, 2019 of all four counts of a superseding indictment: three counts of wire fraud and one count of securities fraud following a two-week trial before U.S. District Judge Anne E. Thompson, who imposed the sentence today in Trenton federal court.

According to the superseding indictment and evidence at trial:

Falci controlled a number of investment funds under the names “Saber Funds” and “Vicor Tax Receivables LLP.” The Saber Funds were a collection of investment funds that Falci created and operated, starting in the early 2000s. Many of his earliest victims were friends, family, and associates. Falci served as a fire chief in Middletown, and many early victims were policemen, fireman, and retirement funds for first responders. The Saber Funds grew to have more than 200 investors from whom the defendant raised more than $10 million.

Read more: https://www.justice.gov/usao-nj/pr/middletown-new-jersey-investment-manager-and-former-fire-chief-sentenced-15-years-prison