Hudson County Man Sentenced to Prison for Defrauding Cancer Victim of $279,000

A Hudson County man was sentenced today for 37 months in prison for defrauding an elderly woman of $279,000 while she was hospitalized with cancer.

Ralph Cozzino, 45, of North Bergen, pled guilty to one count of mail fraud before U.S. District Judge Robert B. Kugler in Camden Federal Court, U.S. Attorney Paul J. Fishman said in a statement today.

In addition to the prison term, Judge Kugler sentenced Cozzino to serve three years of supervised release and ordered him to pay restitution of $279,020.

Cozzino admitted to stealing stock certificates from the elderly woman’s apartment, Fishman stated. According to the statement, Cozzino then presented the stolen stock certificates to the victim’s stock transfer agent.

The transfer provided a fraudulent power of attorney bearing the victim’s name, address, Social Security number and forged signature, which granted him control over the victim’s financial affairs, including the power to redeem and/or sell her stock.

Cozzino used the stock money to by a 2006 Nissan, Lasik eye surgery, as well as put a down payment on a house. He also purchased furniture for the house and covered the closing costs.

“Cozzino instructed the stock transfer agent to transfer ownership of the stolen stocks into Cozzino’s name and to liquidate certain shares of stock for his benefit,” Fishman said. “Cozzino caused the stock transfer agent to send him the proceeds of the liquidated shares, which he deposited into bank accounts that he controlled and spent the funds on various personal expenditures.”

U.S. Attorney Fishman credited postal inspectors of the U.S. Postal Inspection Service, under the direction of Inspector in Charge Maria L. Kelokates, for the investigation.