New Jersey
Fair Lawn man, NY associate facing civil action by NJ AG for defrauding investor
3-minute read
A Bergen County man and his New York business associate are facing a civil enforcement action filed by the New Jersey Bureau of Securities with the Division of Consumer Affairs for defrauding at least one New Jersey investor in an investment scheme tied to a job recruiting software service that they were allegedly trying to grow, according to the New Jersey Office of the Attorney General.
Michael Lakshin. of Fair Lawn, and Edward Aizman. of Brooklyn, as well as their company Bowmo, Inc. used “fraud and deception,” allegedly convincing one of Lakshin’s childhood friends to liquidate her retirement fund and invest in their start-up business venture, according to a civil complaint filed in Bergen County on Friday. They then allegedly diverted most of the funds for their own personal use including cash advances, hotel stays and purchases at car dealerships and designer stores among other expenditures.
“The defendants in this case shamelessly bankrolled their lavish lifestyles with someone else’s hard-earned retirement savings,” said Attorney General Matthew J. Platkin. “The lawsuit announced today sends a clear message that this kind of blatant exploitation of investors will not go unpunished in New Jersey.”
The complaint alleges, according to the Office of the Attorney General, that from April through August 2020, Lakshin, Aizman and Bowmo (through Lakshin and Aizman), offered and sold at least $84,681.19 of Bowmo’s securities in the form of a convertible note to at least one NJ investor.
They told the investor that the Bowmo note was an investment opportunity which would provide her a “significantly higher return” than her retirement savings. They allegedly told her that Bowmo was successful, bringing in a lot of money through its success and that she could profit by investing her funds into the company.
Lakshin also allegedly leveraged their childhood connection to convince her to invest. After learning about the investor’s retirement account, Lakshin allegedly pressured her to liquidate the account for the purpose of buying the Bowmo note.
Lakshin assured the investor that she would “realistically” be able to earn “A MUCH GREATER return,” through a series of text messages, falsely informed the investor that she should not have any taxes or penalties withheld when withdrawing funds from her account, and assured her that Bowmo would reimburse her for any taxes or penalties that would have to be paid as a result of the liquidation.
On June 25, 2020, the investor liquidated her retirement account. This liquidation included two charges and exposed her to paying taxes on the funds as she was not “rolling them over to another qualified retirement plan,” according to the Office of the Attorney General .
On July 2, 2020, the investor met with Lakshin and Aizman and signed a Bowmo subscription agreement. She wired $84,681.19 from her bank account to a Bowmo bank account controlled by Lakshin and Aizman later that month.
A Bowmo investor package provided to the investor prior to investing said that funds would be used to further develop Bowmo’s software, expand its marketing business, and make strategic hires among other business-related ventures.
Instead, the defendants allegedly transferred the funds to bank accounts held by a seperate and unrelated entity and misused the funds by diverting them for personal and non-business-related purposes.
The lawsuit seeks a court order to permanently ban Bowmo, its president and chairman Lakshin, and its founder and CEO Aizman, from issuing, offering, or selling securities in New Jersey, according to the Office of the Attorney General. It also asks the court to assess civil monetary penalties, restitution plus interest and expenses for the victim, and disgorgement of all funds and profits gained from the scheme.
According to Bureau Chief Elizabeth M. Harris, this case “serves as a sobering example of why it’s vitally important to investigate investment products, even those offered by someone you know and trust.”
She continued, “It’s also an opportunity to remind our residents that while fraudulent investment schemes come in a variety of forms, the pressure to act fast to avoid missing out on a hot investment is a universal red flag of fraud that should not be ignored. In addition to doing their due diligence before investing, we urge New Jerseyans to follow their instincts when a transaction doesn’t pass the smell test.”
Investors can obtain information about any financial professional doing business to or from New Jersey by visiting the Bureau’s website at www.NJSecurities.gov, or calling the Bureau within New Jersey at 1-866-446-8378 or from outside New Jersey at 973-504-3600.
New Jersey
Family grieving after deadly wrong-way crash in Totowa, New Jersey
Two people were killed and two others, including a toddler, were injured in a wrong-way crash in Totowa, New Jersey, earlier this week.
Officials confirm the wrong-way driver was off-duty Newark firefighter Albin Fermin, 30. According to Newark officials, Fermin had been with the Newark Fire Department since February 2024 and was assigned to Engine 10.
Wrong-way driver, mother of 2-year-old killed
The crash happened on I-80 just after 2 a.m. Monday.
New Jersey State Police said 60-year-old Joanne Furman was driving west on I-80 with her daughter Imani Furman, 24, and her 2-year-old grandson, when they were struck head-on by Fermin, who was driving the wrong way.
Fermin and Imani Furman were both killed in the crash.
Police said Joanne Furman was seriously injured and the 2-year-old suffered moderate injuries. Both were taken to a local hospital.
The crash remains under investigation.
“It wasn’t my daughter’s fault”
Janice Furman, Joanne Furman’s mother and Imani Furman’s grandmother, said her family is devastated.
“It wasn’t my daughter’s fault. It was not her fault,” she said. “They’re showing pictures of [Fermin], his family and the whole team of his fire department. ‘We’re going to miss you.’ Almost like a heroic thing. This isn’t heroic. He killed someone.”
Janice Furman said after undergoing several surgeries, Joanne Furman regained consciousness Wednesday. That’s when the family had to break the news about Imani Furman.
“That’s all she said to me, is, ‘Mommy, she’s gone,’” Janice Furman said.
She said the family is overwhelmed with grief.
“Imani was a very spirit-filled young lady. She loved life. She loved to sing. She loved to dance,” Janice Furman said.
She said Imani Furman’s only son, Messiah, was her world.
“She won’t see him graduate. She won’t see anything,” Janice Furman said.
Joanne Furman will have to undergo weeks of physical therapy before she can walk again, her mother said. The family is asking for prayers as they navigate her recovery and plan a funeral.
New Jersey
Sherrill Announces that Lisa Asare will Continue as President and CEO of the NJ Maternal & Infant Health Innovation Authority – Insider NJ
Governor-elect Mikie Sherrill today announced that Lisa Asare will continue as the President and CEO of the NJ Maternal & Infant Health Innovation Authority, and the position will remain in the Gov.-elect’s cabinet. Lisa Asare brings a depth of experience to the role, having held previous positions as Deputy Commissioner of Health Services within the New Jersey Department of Human Services and as Assistant Commissioner of the Division of Family Health Services at the New Jersey Department of Health.
“I have asked Lisa Asare to continue her strong leadership at NJ Maternal & Infant Health Innovation Authority as New Jersey continues to confront the Black Maternal Health crisis. She is known for her ability to bring state government together with practitioners, community partners, and local advocates to develop solutions that improve affordable access to care and health outcomes for women. Together, we’ll invest in programs that build the midwife and doula workforce, and leverage telehealth and remote monitoring services, both during and after pregnancy, to support postpartum moms and healthy infants,” said Governor-elect Mikie Sherrill.
“I am honored to continue to lead the NJ Maternal & Infant Health Innovation Authority. At MIHIA, we are focused not only on delivering physical care, but addressing the social determinants of health, expanding the perinatal workforce, supporting research and data collection, and acting as an incubator for innovation in maternal and infant health. I’m looking forward to continuing to advance this work as part of the Sherrill-Caldwell administration because I know the Governor-elect is committed to these same goals and has already demonstrated that community members have a seat at the table as we work to address healthcare disparities for communities of color across the state,” said Lisa Asare.
Governor-elect Sherrill highlighted the need to address maternal healthcare disparities throughout her campaign for governor and is committed to delivering on those promises. She sat down with moms, providers, community leaders, and advocates at roundtables across the state to pinpoint the key issues state government must address. Specifically, the Sherrill-Caldwell administration will work to build a culturally competent workforce, including doulas and nurse midwives, and ensure that students of color have access to these training programs. Additionally, the administration plans to invest in telehealth services, remote monitoring, and home visiting programs immediately after pregnancy to support postpartum outcomes and healthy infants.
Lisa Asare is the President and Chief Executive Officer of the NJ Maternal and Infant Health Innovation Authority, a position she was appointed to in March 2024. Prior to this appointment, Ms. Asare served as Deputy Commissioner of Health Services within the New Jersey Department of Human Services. In this role, she oversaw the Division of Medical Assistance and Health Services that administers NJ FamilyCare and the Division of Mental Health and Addiction Services. She also served as the Department lead on First Lady Murphy’s Nurture NJ maternal health initiative.
Ms. Asare previously worked as the Assistant Commissioner of the Division of Family Health Services at the New Jersey Department of Health, for more than 20 years. She redesigned the Division’s approach to addressing black infant mortality and maternal mortality, contributed to the NurtureNJ strategic plan, addressed the social determinants of health by collaborating with other state agencies and non-traditional partners, and leveraged additional state, federal, and philanthropic funding to address emerging issues and the COVID-19 pandemic.
New Jersey
Keefe | POST-RAW 1.6.26 | New Jersey Devils
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