TEANECK, NJ MAN SENTENCED TO 8 YEARS IN NEW JERSEY STATE PRISON FOR MONEY LAUNDERING
For Immediate Release:
May 9, 2023
Bergen County Prosecutor Mark Musella announced that on May 5, 2023, CHANDER SINGH of Teaneck, NJ was sentenced to 8 years in New Jersey State Prison after pleading guilty to money laundering in connection with an investment and mortgage fraud Ponzi scheme.
In February 2020, detectives from the Bergen County Prosecutor’s Office Financial Crimes Unit began receiving complaints pertaining to CHANDER SINGH, Esq., and his company, SC Capital Investors LLC, from multiple investors who stated that they were owed money from multiple real estate transactions. The investigation revealed that SINGH and his company, SC Capital Investors LLC, a distressed real estate renovation company, perpetrated a Ponzi-like scheme in which SINGH promised investors double digit returns. It further revealed that SINGH solicited money from approximately 30 investors through a web of entities under the umbrella of SC Capital Investors LLC. SINGH operated the fraudulent scheme since at least 2014 at which time he rolled losses from his previous company, FC Capital Investments LLC, another failed distressed property “flipping” company, into SC Capital Investments LLC.
Through this elaborate scheme, CHANDER SINGH, with help from co-defendants who were his family and friends and who were all licensed real estate agents, defrauded the victims out of as much as $4.7 million over 5 years.
On March 16, 2023, CHANDER SINGH pled guilty to first-degree money laundering in exchange for the State recommending a sentence in the second-degree sentencing range. On May 5, 2023, the Honorable Gary Wilcox, J.S.C., sentenced SINGH to 8 years in New Jersey State Prison with a 3-year period of parole ineligibility for his crimes.
The State was represented by Chief Assistant Prosecutor Megan Kilzy, Detectives William McMonigle and Anthony Cilento, Analyst Jonathan Misskerg, and Victim Witness Advocate Michelle Churchill of the Bergen County Prosecutor’s Office.
Prosecutor Musella thanks Assistant Prosecutor Kilzy for her zealous advocacy for the victims and their families and for helping combat large-scale financial crimes in Bergen County. Prosecutor Musella also commends all law enforcement members of the Financial Crimes Unit for their skill and professionalism in investigating this matter.