Tag Archives: Saber Funds

U.S. Attorney: Alleged Area Investment Fraudster Faces Charges of Bilking $5.3 Million

An investment manager with an office in Middletown will appeared in federal court to face charges that he fraudulently concealed investment losses and diverted at least $5.3 million in investor money for his personal use, U.S Attorney Paul J. Fishman announced on Friday.

Vincent P. Falci, 57, of Middletown, was charged with two counts of wire fraud and one count of securities fraud. He appeared Friday before U.S. Magistrate Judge Steven C. Mannion in Newark federal court.

According to the complaint unsealed on Friday, Falci controlled a number of investment funds under the names “Saber Funds,” and “Vicor Tax Receivables LLP” (the Vicor Fund).

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