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Fair Lawn man, NY associate facing civil action by NJ AG for defrauding investor

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Fair Lawn man, NY associate facing civil action by NJ AG for defrauding investor



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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.

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“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.

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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.

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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.”

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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.



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What to know about Freedom Fuel Network as Trump urges cheaper gas prices in Pennsylvania, NJ

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What to know about Freedom Fuel Network as Trump urges cheaper gas prices in Pennsylvania, NJ


PHILADELPHIA (WPVI) — There are 25 new Freedom Fuel Network gas stations opening across the Philadelphia area and South Jersey as Americans closely watch gas prices.

This comes after President Trump announced the privately-owned network on social media last week, saying it will help drivers save money at the pump.

There are 25 new Freedom Fuel gas stations opening across the Philadelphia area and South Jersey as Americans closely watch gas prices.

The first location in Dresher, Montgomery County, opened on Friday, with the price of $3.47 per gallon.

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This cost was a nod to President Trump serving as the nation’s 47th president.

However, that price has already started to rise after the president announced new U.S. strikes, sending oil and gas prices higher.

Some of those locations with gas stations participating in the Freedom Fuel Network include Lansdowne, Bensalem and Pottstown in Pennsylvania; and Marlton in New Jersey.

Gas Calculator: Find out how much it costs to fill your tank

A White House official told ABC News the administration is not involved with the company and is not providing any funding or subsidies.

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Instead, the company says it is cutting its own profit margins to offer lower prices.

Some drivers are applauding this move while others, including gas analysts, are skeptical.

“$3.47 a gallon is a Godsend, honestly,” said one consumer. “Great price because this was a Sunoco before and prices were a lot higher.”

“I want Americans to be asking, ‘Where is that money coming from? Why are corporations and businesses willing to subsidize gas 50-cents a gallon for people, to make President Trump look good,” said another consumer.

Trump is also encouraging other gas retailers to lower their prices. He has not identified the company behind Freedom Fuel, saying only that it’s a private retailer.

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Action News is still working to learn how long these lower prices will last and whether more stations will open.

Copyright © 2026 WPVI-TV. All Rights Reserved.



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7 On Your Side helps man recover his stolen iPhone from safe pickup site

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7 On Your Side helps man recover his stolen iPhone from safe pickup site


JAMESBURG, New Jersey (WABC) — When it comes to home deliveries, having your order stolen right off your doorstep can be infuriating, so one New Jersey man did it right.

Peter Tsistinas had his brand-new cell phone delivered to a so-called safe pickup site, designated by the seller, where it was stolen.

Delivery services can drop off your item at any number of safe locations, where you can later pick up your order. But as exclusive video obtained by 7 On Your Side shows, porch pirates are upping their game.

Captured on a security camera, a man calmly walks into the CVS store, asks for a delivery, shows an ID, signs for it, and walks off with a brand-new iPhone. There’s just one problem.

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“They saw somebody that was not me getting my package,” said Tsistinas when asked what the police were seeing on the tape.

The real Peter, a popular DJ for hire, was dumbfounded. He chose the safe drop to avoid being porch pirated, but the thief still got the goods.

“Yeah, I actually paid extra for it. It wasn’t much. It was $7.99,” Tsistinas said.

Tsistinas got a notification from UPS that the phone was dropped off at 12:39 p.m., less than two hours later, he got a notice it was picked up.

But Tsistinas didn’t pick it up. It was the unknown suspect who went into the CVS, walking off with the brand-new iPhone for Peter’s son.

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Tsistinas reported the crime to the police and alerted UPS, CVS and T-Mobile, which shipped the smartphone. The response to the DJ was what he called, “crickets.”

“I was watching, you know ABC News, and I saw 7 On Your Side and I’m like, ‘you know, you’re the first thing I thought of,’” Tsistinas said

7 On Your Side reached out to both CVS and the cell phone provider.

Within a week, T-Mobile responded, saying, “Our care team is working with Mr. Tsistinas directly to get him the device he ordered from us, and we’re working closely with CVS and our other partners to further protect our customers’ orders from theft. Our dedicated fraud, crime and logistics teams collaborate with vendors to address these issues and improve delivery processes.”

CVS also sent 7 On Your Side an official statement, saying, “We’ve connected with the customer and apologized for his experience. T-Mobile is now working directly with Mr. Tsistinas to help resolve the matter. Anyone picking up a UPS package at CVS Pharmacy must present identification matching the person and name on the package to be released. We’re working with the store team to help prevent similar situations from occurring in the future.”

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After weeks of back and forth with the companies, Tsistinas could finally focus on his beats again.

“I paid almost $500 in deposit, and then it was going to be like so much per month. So, they just squashed all that,” Tsistinas said.

Referencing the Rolling Stones, he says he not only got his satisfaction, but also his money back.

“Nina, you’re the best!” Peter said.

Police are still looking for the suspect in the video and say he’s part of a crime ring. If you recognize him, call Jamesburg police in New Jersey.

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Do you have an issue with a company that you haven’t been able to resolve? If so, 7 On Your Side wants to help you!

Fill out the form below or email your questions, issues, or story ideas by filling out the form below or by emailing 7OnYourSideNina@abc.com. All emails MUST INCLUDE YOUR NAME AND CELLPHONE NUMBER. Without a phone number, 7 On Your Side will not be able to respond.

Copyright © 2026 WABC-TV. All Rights Reserved.



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Police conclude investigation at Walmart in Cherry Hill, officials say

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Police conclude investigation at Walmart in Cherry Hill, officials say


A police investigation took place at a Walmart in Cherry Hill, New Jersey on Wednesday morning and shoppers may have noticed an increased presence of officers at the shopping center, officials said.

On social media, the Cherry Hill Police Department alerted residents that an investigation was underway in a Walmart, located along Route 38 in Cherry Hill, New Jersey, at about 9 a.m. on Wednesday.

However, officials did not immediately detail the cause of this increased police presence, other than saying an investigation was underway and “the scene has been secured.”

Police were asking people to avoid the area, if possible, to allow officers the ability to complete this investigation.

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However, as of about 10 a.m., police said on social media that the incident was resolved and there was no threat to the public.

As of about 10:15 a.m., police had not provided further information on the nature of this investigation, nor did they say if anyone was arrested through the course of this incident.

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NBC10 is working to learn more.

This is a breaking news story. It will be updated as new information becomes available.





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