TRENTON—A Jersey City man was sentenced to prison for stealing nearly $1 million from victims he fraudulently convinced to invest in a garment and textile business that was not in operation, Attorney General Anne Milgram announced Tuesday.
Radjinder Sewnath, 50, was sentenced to seven years in state prison by Superior Court Judge Lourdes I. Santiago in Hudson County.
Sewnath pleaded guilty on June 22 to an accusation filed by the Division of Criminal Justice charging him with theft by deception and money laundering, both in the second degree. He must pay $975,237 in restitution to his victims under a consent judgment filed in court Tuesday.
In pleading guilty, Sewnath admitted that between November 2005 and December 2008, he deceived at least five victims into investing in his company, Uni-Global Trading, Inc. in Jersey City. The victims included the owners of two Jersey City check-cashing businesses. An investigation by the Division of Criminal Justice Major Crimes Bureau revealed that Sewnath stole nearly $1 million from the investors.
Sewnath claimed that Uni-Global Trading was an active business that bought and resold garments and distressed textiles. In reality, the business was not operating at the time. At the plea hearing, Sewnath admitted that, instead of investing the victims’ money in the business for their benefit, he deposited it into his bank account and used it for his personal expenses.
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