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
Though down from previous month, New Jersey online casinos post November revenue record in 2025
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While online casinos in New Jersey fell short of another revenue record, November was still the state’s second-best month ever with over $253 million.
They’ve been around for over 12 years, yet online casinos in New Jersey continue to find ways to set revenue records. After posting the industry’s largest single-month total in October, NJ online casinos last month combined for $253 million to set a November record and ranks as the second-biggest single-month total in Garden State history.
NJ online casinos set single-year record with one month left
Since launching in 2013, NJ online casinos have continually set high-water marks – even now, a dozen years later.
With $253 million in November revenue, as reported by the New Jersey Division of Gaming Enforcement, casino apps in the Garden State now sit at just over $2.64 billion for the year, leading to $455 million in state tax revenue. With one month left in 2025, the industry has already set a single-year record, which previously stood at around $2.4 billion.
To further put into perspective the growth of online gambling in New Jersey, the industry is over 22% ahead of the 11-month pace it set in 2024. Consider the first 14 months of online casinos in NJ, during which time operators combined for a mere $131.2 million in revenue.
While it’s unlikely that NJ online casinos will reach the $3 billion mark by the end of the year, iGaming has proven it can continue to grow after more than 10 years of existence.
FanDuel Casino, DraftKings Casino continue to set pace
While the monthly total is one for the books, the standard brands set themselves apart from the rest of the market.
For example, FanDuel Casino – which new users can sign up with and claim the FanDuel casino bonus – reported $60.2 million. That was well ahead of the second-place DraftKings Casino bonus, which helped drive $49.6 million in November.
Along with the BetMGM Casino app ($30.6 million), Borgata Casino ($20.6 million) and Caesars Palace Online Casino ($19.3 million), the top five revenue-earners in November accounted for more than 71% of the total online casino total in November.
New Jersey
Ice, freezing rain alerts expand to 10 N.J. counties. Wind advisory issued for 50 mph gusts Monday.
Winter weather advisories have been expanded to 10 New Jersey counties with freezing rain that could cause a dangerous layer of ice tonight.
The National Weather Service has also issued a wind advisory for 16 counties Monday with up to 50 mph gusts possible.
The more immediate concern is freezing rain already hitting the state Sunday evening.
Winter weather advisories for Bergen, Essex, Hudson Passaic and Union counties expire between 10 p.m. and midnight.
Winter weather advisories for Hunterdon, Morris, Somerset, Sussex and Warren counties take effect at 6 p.m. and run through 2 a.m.
As temperatures remain near or below freezing across northern New Jersey this evening, precipitation will fall as freezing rain, particularly in Warren and Morris counties where a glaze to one-tenth of an inch of ice accumulation is possible.
The National Weather Service warns that even areas outside the advisory that remain near freezing at the onset of precipitation could experience localized icing, especially on shaded surfaces that have remained below freezing for more than 36 hours.
Temperatures will rise above freezing areawide during the pre-dawn hours Monday as a warm front lifts through the region, changing any remaining freezing rain to plain rain.
A brief break in the rain is likely prior to daybreak Monday.
The warm front will be quickly followed by a strong cold front Monday afternoon, bringing another period of rain that may be moderate in intensity at times.
High temperatures Monday will reach the upper 40s along the coast before the cold front passes, bringing high winds to the area.
The wind advisory for 16 counties runs from 10 a.m. Monday to 1 p.m. Tuesday. Just Bergen, Essex, Hudson, Passaic and Union counties are not under wind advisories.
“Strong westerly winds develop Monday with wind gusts up to 50 mph and a wind advisory has been issued,” the weather service said Sunday evening. “Some tree damage and power outages possible.”
Tuesday will be markedly colder with high temperatures struggling to rise above freezing even at the Jersey Shore.
Wind chills in the teens and low 20s are expected during the day.
Skies will be partly cloudy with continued gusty winds of 20 to 30 mph.
Wednesday brings slightly milder conditions with highs in the mid 30s to near 40 degrees, though it remains well below normal for late December.
The extended forecast shows below-normal temperatures continuing through the end of the week and into the New Year.
Thursday may bring a chance of snow showers as a weak cold front passes through, though accumulations are expected to be light.
Friday looks dry with highs in the low to mid 30s.
Another weather system may impact the area late next weekend, potentially bringing a mix of rain and snow, though forecast confidence remains low for that timeframe.
Current weather radar
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One person was killed and another critically injured when two helicopters collided and crash-landed in Hammonton, New Jersey, on Sunday morning, authorities said.
The Hammonton Police Department told Fox News Digital that it received calls of an aviation crash at approximately 11:25 a.m. involving two helicopters in the area of the 100 block of Basin Road.
Police, fire and EMS responded, extinguishing one helicopter that was engulfed in flames.
The Federal Aviation Administration and National Transportation Safety Board have been notified and will investigate the crash, police said.
MIDAIR PLANE CRASH KILLS ONE PERSON NEAR COLORADO AIRPORT AS BOTH PLANES CATCH FIRE
Two helicopters collided Sunday, Dec. 28, 2025, in Hammonton, N.J. (WTXF)
New Jersey Lt. Gov. Tahesha Way wrote on X that she has been updated on the midair collision.
The site of a deadly helicopter collision in Hammonton, N.J., on Dec. 28, 2025. (WTXF)
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“The Atlantic County Office of Emergency Management, Hammonton Police Department, and @NJSP personnel are on the scene,” she said.
This is a breaking news story; check back for updates.
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