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OAG launches office to combat fraud, financial crimes
Matthew Fazelpoor//January 12, 2023
New Jersey Attorney General Matthew Platkin announced Jan. 12 the creation of the Office of Securities Fraud and Financial Crimes Prosecutions (OSFFCP), a new office within the Division of Criminal Justice that will focus on prosecuting major financial crimes.
Platkin tapped Assistant Attorney General Pablo Quinones to lead the newly established office, which the OAG says will enhance its existing efforts to fight crimes that undermine the fairness and integrity of financial systems or exploit and prey on New Jerseyans.
The OSFFCP will investigate and prosecute crimes such as: securities, commodities and investment fraud; investment advisor fraud; market manipulation; schemes to defraud or deceive; Ponzi and pyramid schemes; commercial bribery and disloyalty; money laundering; and corporate and white-collar crimes.
In a press release, the OAG said the OSFFCP will focus on the most significant securities and financial crimes impacting individuals and companies that reside or do business in the Garden State.
Platkin says the creation of the office puts fraudsters and wrongdoers on notice.
“If you harm our residents and violate our financial and securities laws, you will be held accountable, no matter how powerful you are,” said Platkin in a statement. “Our new Office is laser focused on identifying, investigating, and prosecuting financial predators of all types, and joining the impressive, existing work of our civil and criminal teams in this area.”
He added that he is pleased to have a seasoned prosecutor Quinones leading the effort, describing him as a “perfect fit” for the new role.
Quinones, a Bergen County resident, has served as a prosecutor for more than 10 years, including stints as an assistant United States attorney for the Southern District of New York serving on the Securities and Commodities Fraud Task Force, and as a deputy chief of the Criminal Division’s Fraud Section at the U.S. Department of Justice.
“I am both honored and excited by the opportunity to lead the Attorney General’s important effort to combat financial crimes and protect vulnerable victims across the State of New Jersey,” said Quinones. “I look forward to serving the residents of New Jersey and helping to ensure that those who dare to defraud New Jersey businesses and individuals of their hard-earned financial resources are held accountable without fear or favor.”
