Man Defrauded Dead Friend's Mother, Others In Bergen County: Feds

BERGEN COUNTY, NJ — A Hoboken man promised friends and acquaintances in Bergen County that he'd invest their money, but used it for gambling and to pay his rent, federal prosecutors say.

Anthony Petrosino, 60, pleaded guilty on Wednesday to one count of wire fraud, said the office of U.S. Attorney Robert Frazer.

Prosecutors said that from January 2016 through November 2024, Petrosino encouraged at least four victims — including the widow of a late friend who lived in Wyckoff — to transfer investment funds, mortgage payments, and other money to him so he could invest it in brokerage accounts.

"Petrosino provided one elderly victim with falsified investment statements that purported to show that she had hundreds of thousands of dollars deposited in various investment accounts," prosecutors said.

Instead, he used the money to gamble, pay rent on a luxury apartment, and make credit card payments, federal prosecutors say.

When investors raised questions, he continued to lie, prosecutors say.

The indictment in the case (linked below) says Petrosino defrauded both the wife and the mother of his Wyckoff friend, who passed away in 2015. It also says he defrauded a friend in Westwood who was a federal worker, and an older relative in Hoboken.

The wire fraud charge carries a maximum penalty of 20 years in prison and a $250,000 fine, or twice the gross amount of gain or loss from the offense, prosecutors said.

Sentencing is scheduled for Aug. 5.

Frazier thanked FBI agents and other federal agents for the investigation, as well as the Wyckoff police.

Read the indictment here.