NEW JERSEY (1010 WINS) — A California man who defrauded two elderly New Jersey victims out of thousands of dollars through a fake investment opportunity was sentenced to 42 months in prison on Tuesday.
The Burbank man, 59-year-old Christopher Glynn, offered the two Vineland victims bogus investment opportunities as they were attempting to set up an animal welfare charitable foundation and shelter with him, court documents show.
Glynn, who maintained several corporate entities, told the victims they could “invest” hundreds of thousands of dollars in a “business development loan,” promising the funds would be used for expenses related to his entities and international trust as well as expenses related to the animal shelter, authorities said.
The victims were told the loan they took out would be invested back into Glynn’s entities and the victims would generate a return which could be used for the their animal foundation and shelter.
Glynn set up an elaborate scheme to make the victims believe they were investing in a legitimate business opportunity. He sent contracts and even set up conference calls with alleged officials.
Along with the loan, Glynn convinced the victims to open credit cards in the name of their forthcoming charity which he would have access to. He also told the victims to wire the loan money to a bank account he controlled.
In the end, there was no business opportunity and Glynn, and his associates, spent the money on personal expenses like travel, tanning and luxury retail purchases.
Glynn pleaded guilty in federal court to wire fraud and one count of money laundering. Along with prison, he was sentenced to three years supervised release.
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