Somerset County Man Faces Charges For Allegedly Defrauding Investors Of $1.5 Million

A 56-year-old Somerset County man is expected to appear in court today to face five counts of wire fraud after he allegedly solicited $1.5 million from 16 investors based upon false and fraudulent financial records

According to U.S. Attorney Paul J. Fishman, Rostyslaw Mykytyn, of Skillman was indicted by a federal grand jury on June 19 and is scheduled for his initial appearance and arraignment before U.S. Magistrate Judge James B. Clark III.

According to the indictment:

• Mykytyn was the owner, president and CEO of RGM Management Co., d/b/a/ Campbell Co. Inc. Campbell was located in Washington State and provided sales representative services to a company that manufactured and distributed power and cooling infrastructures for large computer spaces. Mykytyn solicited various investors for Campbell based upon false and fraudulent financial statements.

• Mykytyn allegedly created false commission statements from a client that showed sales in excess of $4 million, of which Campbell was due $472,720, to make Campbell’s income appear greater than it was. Mykytyn also falsely represented Campbell’s assets to investors who, relying on those representations, wire transferred $1.5 million into the company. Mykytyn would then divert a portion of the investment to himself to pay for his personal expenses, without disclosing the diversion to his investors.

Each count of wire fraud carries a maximum penalty of 20 years in prison and a fine of up to the greater of $250,000 or twice the gain or twice the loss from the offense.