- Associated Press - Tuesday, April 11, 2017

CAMDEN, N.J. (AP) - A New Jersey man has admitted conspiring to defraud 76 vitims of more than $4 million in an investment fraud scheme.

Peter Zuck of Middletown pleaded guilty on Tuesday to conspiracy to commit wire fraud and tax evasion. The 66-year-old was co-founder of Osiris Partners and Osiris Partners Fund.

Zuck admitted members of the fund diverted investors’ funds and fraudulently drew $3.9 million in management fees to which they were not entitled.

He also admitted he attempted to evade paying more than $273,000 in income tax.

Zuck faces up to 20 years in prison when he’s sentenced in July.

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