A New Jersey man, Antonio Petrosino, also known as Anthony Petrosino, has been arraigned on charges of wire fraud and money laundering. The charges relate to a scheme targeting elderly victims by misappropriating funds that were supposed to be invested or used for their benefit, according to U.S. Attorney Alina Habba.
Petrosino, 60, from Union City, New Jersey, appeared before Senior U.S. District Judge Stanley R. Chesler on July 9, 2025. He was indicted by a federal grand jury on June 18, 2025, facing five counts of wire fraud and one count of engaging in monetary transactions involving property derived from unlawful activity. Initially charged in January 2025 with similar offenses, the indictment marks a significant development in the case.
Court documents reveal that between January 2016 and November 2024, Petrosino allegedly convinced victims to transfer investment funds and other payments under false pretenses. He presented himself as a financial services professional and promised to invest the money or use it for the victims’ benefit. However, he reportedly misused these funds for personal expenses such as gambling and luxury apartment rent.
One victim received falsified investment statements showing non-existent deposits in her name. When questioned about the status of their investments, Petrosino allegedly reassured victims with false information to conceal his actions. In total, he is accused of stealing over $1 million.
The wire fraud charges carry a potential penalty of up to 20 years in prison each, while the money laundering charge could result in up to 10 years in prison. All counts include a fine of $250,000 or twice the gross gain or loss from the offense.
U.S. Attorney Habba acknowledged the efforts of special agents from various agencies including the FBI under Special Agent Stefanie Roddy’s direction; agents from the Board of Governors of the Federal Reserve System – Consumer Financial Protection Bureau’s Office of Inspector General led by Brian Tucker; and Wyckoff Police Department headed by Chief David V. Murphy for their role in investigating Petrosino’s activities.
Assistant U.S. Attorney Jennifer Kozar from the Economic Crimes Unit is representing the government in this case.
“The charges and allegations contained in the indictment are merely accusations,” emphasized U.S. Attorney Habba, “and the defendant is presumed innocent unless and until proven guilty.”
Defense Counsel: Michael Thomas, Esq.
