NJ man who admitted role in $4.7M Ponzi scheme gets just 8 years in prison
🔲 NJ disgraced real estate investor is sentenced for role in a massive Ponzi scheme
🔲 Prosecutors say Chander Singh and relatives ripped off about 30 people for $4.7M
🔲 Singh could be out on probation in just 3 years, on a term for money laundering
A disgraced North Jersey real estate agent and disbarred attorney has been sentenced to prison, stemming from a massive Ponzi scheme that ripped off about 30 people for $4.7 million.
Chander Singh was handed down an eight-year sentence for money laundering, Bergen County Prosecutor Mark Musella announced.
The 45-year-old Teaneck resident had previously agreed to a plea deal in March.
He would be ineligible for parole for the first three years.
Singh, formerly of Emerson, was arrested in 2020 alongside his parents and other relatives, who also faced charges.
All the defendants were licensed real estate agents, accused of pulling off the roughly five-year scam through Singh’s “distressed” real estate renovation company, SC Capital Investors.
Singh was ultimately caught after spending most of 2020 living abroad in Trinidad and Guayana, NorthJersey.com previously reported — he had been preparing to flee to South America when he was apprehended.
He was disbarred by the state Supreme Court in June 2020.
Singh's father and mother have pleaded guilty to money laundering and forgery, respectively, as reported by NJ.com, and were both awaiting sentencing.
Before the massive Ponzi scheme, Singh had rolled losses from his previous venture, FC Capital Investments — a failed property “flipping” company, into the newer company, prosecutors said.