NJ Woman Accused of Running Ponzi Scheme

Bergen County's prosecutor says the 58-year-old collected approximately $450,000 and investors never received any money

Wednesday, May 16, 2012  |  Updated 1:53 PM EDT
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NJ Woman Accused of Running Ponzi Scheme

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A New Jersey woman operated a Ponzi scheme over a six-year period by telling people they could invest in a hedge fund operated by financier George Soros, authorities say.      

Soros never heard of Dunya Predovan or the hedge fund.      

Bergen County's prosecutor says the 58-year-old collected approximately $450,000 and investors never received any money.      

The Manahawkin resident is held on $100,000 bail, charged with theft by deception and issuing bad checks.      

It's not clear if she has hired a lawyer. 

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