New Jersey Man Sentenced to 63 Months for Defrauding Elderly Victims of $1,130,406

Federal prosecutors have secured a 63-month prison sentence against a New Jersey man who stole more than $1 million from elderly victims by falsely promising to invest their money. Antonio Petrosino, 61, of Union City, New Jersey, received the term on November 5th, 2026, from U.S. District Judge Stanley R. Chesler after pleading guilty to wire fraud on March 25, 2026, says the U.S. Attorney’s Office for the District of New Jersey. The scheme ran from January 2016 through November 2024 and involved tricking victims into sending money for supposed investments or personal benefit. Petrosino presented fake investment statements to one elderly victim, showing hundreds of thousands of dollars in accounts, and gave false assurances when questioned about the funds.

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