SYLVIA STURM CHARGED WITH THEFT AND MISCONDUCT 
TO: ALL NEWS MEDIA
FROM: PROSECUTOR JOHN L. MOLINELLI

Bergen County Prosecutor John L. Molinelli announced the arrest of SYLVIA N. STURM (DOB: 10/15/1955) of 200 Oak Street, Bogota, NJ. Ms. STURM was charged with Theft by Deception and Misconduct by a Corporate Official. The arrest came about as a result of an investigation conducted by members of the Bergen County Prosecutor’s Office, White Collar Crimes Unit, under the direction of Chief Carmen MARTINO, Bogota Police Department, under the direction of Chief John BURKE, and Teaneck Police Department, under the direction of Chief Robert CARNEY.

On May 26, 2015, members of the Bergen County Prosecutor’s Office, White Collar Crimes Unit, along with members of the Bogota and Teaneck Police Departments, arrested Sylvia N. STURM after a month-long investigation into allegations of Theft by Deception and Fraud reported by Bank of America. The investigation revealed that Ms. STURM and her daughter, Jennifer CRUZ (DOB: 06/03/1980) were involved in a fraudulent telephone phishing investment scheme in which victims wired money into a Bank of America account in the name of Jennifer CRUZ. The victims were told that these funds would be directly deposited into an investment portfolio with Spot FN, a binary options trading company. The funds in Ms. CRUZ’s account were then withdrawn by Ms. STURM and used for personal expenses.

Both Sylvia STURM and Jennifer CRUZ were charged with one (1) count of Theft by Deception and one (1) count of Misconduct by a Corporate Official. Ms. CRUZ’s whereabouts is currently unknown and a warrant has been issued for her arrest. The Bail for Ms. STURM was set by the Honorable Louis Dinice, J.M.C. at $75,000.00 with no 10% option. Ms. STURM is currently lodged in the Bergen County Jail in lieu of bail.

Prosecutor Molinelli states that these charges are merely accusations and that the defendants are presumed innocent until and unless proven guilty beyond a reasonable doubt, and would also like to thank the Bogota Police Department and Teaneck Police Department for their assistance in this investigation.


SYLVIA STURM
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