Here’s a joke. What’s the difference between a Canadian and Marlton scam artist? Give up? Not much, since they’re both being indicted for bilking potential clients out of more than $500,000, according to the New Jersey Attorney General.
According to Criminal Justice Director Stephen J. Taylor, the Division of Criminal Justice Financial and Computer Crimes Bureau obtained a state grand jury indictment on Sept. 16 charging Albert A. Paramito Jr., 39, of Marlton, his company Paramito Global Holding Inc., a Nevada corporation with an address in Voorhees, and Priti Ramjee, a Toronto woman who is Paramito’s partner, with conspiracy, theft by deception and money laundering, all in the second degree. Paramito and Ramjee were also charged with second-degree misconduct by a corporate official.
Between October 2006 and September 2008, it is alleged that Paramito and Ramjee asked for advance fees from six clients, ranging from $40,000 to $284,000, claiming that they would arrange for millions of dollars in financing for the clients’ projects. The defendants allegedly stole approximately $534,000 in fees, while never arranging any financing.
“Paramito and Ramjee portrayed themselves as high-powered financiers who could raise millions of dollars in venture capital, but we allege that, in reality, they are nothing but slick con artists,” Attorney General Paula T. Dow said. “If convicted, they could face up to 10 years in prison.”
The duo preyed on victims throughout the country and according to the state, would represent that they would become partners in the ventures and executed agreements with the clients regarding profit sharing and other terms.
For example, the defendants allegedly obtained $50,000 from a man who wanted to raise $20 million for a wind energy project in Canada, $60,000 from a man who wanted to raise millions of dollars to build a causeway across a lake in Utah for a toll road, and $40,000 from a man who wanted to buy a defunct hospital in Kansas to develop as an assisted living facility, according to the attorney general.
The defendants allegedly laundered the stolen funds through personal and corporate bank accounts in New Jersey and Canada.
Paramito also operates several other companies, including Affinity Financial Service LLC of Voorhees, N.J., Paramito Asset Management LLC of Pennsylvania, Paramito Pictures LLC of Delaware, and PGH-Canada Ltd. of Ontario, Canada. Ramjee allegedly represented herself as senior vice president of PGH-Canada and head of Paramito Productions, according to the state. Victims indicated that she appeared knowledgeable with respect to both financial matters and film production
Second-degree crimes carry a maximum sentence of 10 years in state prison and a criminal fine of $150,000, according to the state. The second-degree money laundering charge carries a maximum fine of $500,000, and anti-money laundering profiteering penalty of up to $250,000.
The indictment is merely an accusation and the defendants are presumed innocent until proven guilty. The indictment was handed up to Superior Court Judge Pedro J. Jimenez Jr. in Mercer County, who assigned the case to Burlington County, where the defendants will be ordered to appear in court at a later date to answer the charges.
