CAMDEN, N.J. (AP) - A New Jersey man has admitted conspiring to defraud 76 vitims of more than $4 million in an investment fraud scheme.
Peter Zuck of Middletown pleaded guilty on Tuesday to conspiracy to commit wire fraud and tax evasion. The 66-year-old was co-founder of Osiris Partners and Osiris Partners Fund.
Zuck admitted members of the fund diverted investors’ funds and fraudulently drew $3.9 million in management fees to which they were not entitled.
He also admitted he attempted to evade paying more than $273,000 in income tax.
Zuck faces up to 20 years in prison when he’s sentenced in July.
Please read our comment policy before commenting.