Couple creating charity to honor late sibling loses $200,000 in scam, feds say

A New Jersey couple hoping to found an animal charity to honor a late sibling lost $200,000 to an investment scam run by a California man, federal officials said.

Christopher Glynn, 58, of Burbank, pleaded guilty to wire fraud and money laundering, the U.S. Attorney’s Office for New Jersey said in a news release Monday, Nov. 22.

In 2014, Glynn convinced a couple in Vineland, N.J., to invest in a “business development loan” for various corporations and trusts he claimed to run or be affiliated with, the release said.

Glynn told the couple they’d be guaranteed returns that could be used to fund their planned charity, which he also promised to help set up, the release said.

He arranged conference calls with the couple and individuals that he claimed worked for the National Security Agency and Department of Homeland Security to reassure them he was a legitimate investor, the release said.

The couple wired $200,000 to various bank accounts, which Glynn used for personal expenses, an indictment said. The couple never received any proceeds.

Glynn evaded federal authorities for a year before being arrested in Medford, Oregon, after which he was taken to New Jersey for trial, the release said.

He faces up to 20 years in prison and a $250,000 fine for wire fraud and up to 10 years in prison and a $250,000 fine for money laundering, according to prosecutors.

Glynn will be sentenced in April.

This story was originally published November 23, 2021 at 12:25 PM with the headline "Couple creating charity to honor late sibling loses $200,000 in scam, feds say."