7 year sentence for Jersey City swindler

Wednesday, November 11, 2009

A Jersey City man who stole nearly $1 million from people who invested in a shuttered garment and textile business was sentenced to seven years in prison yesterday, Attorney General Anne Milgram said.

Radjinder Sewnath, 50, who pleaded guilty on June 22 to charges of theft by deception and money laundering, must pay $975,237 in restitution to his victims under a consent judgment filed in court yesterday. Sewnath was sentenced by Superior Court Judge Lourdes I. Santiago in Jersey City.

Sewnath admitted that between November 2005 and last December, he deceived at least five victims into investing in his Jersey City company, Uni-Global Trading, Inc. 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.

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.

In his pitch to 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.

JOURNAL STAFF