Bloomfield Township Man Charged With Securities Fraud

A Bloomfield Township resident who convinced an elderly woman to invest roughly $143,000 with him is now facing criminal charges. And there may be more victims out there, police said.

Sam Sesi, 48, turned himself in to authorities last week after detectives with the Bloomfield Township Police Department concluded their 5-month long investigation into his business dealings, officials said Wednesday. He was arraigned in 48th District Court on one count of violating the Securities Act and was released on a $5,000 personal bond, pending his preliminary hearing. Attempts to reach him by phone Wednesday were unsuccessful.

Police said they began investigating Sesi after family members of a 72-year-old township resident became concerned about negative reviews about his work they found on the Internet, including sites like www.ripoffreport.com.

Detectives found that neither Sesi, nor JAC Investments, the firm he identified himself as an investor in, are registered as a security broker or agent, reports said.   

Detectives said they would like to speak to anyone that may have invested with Sesi or JAC Investments as part of the ongoing investigation. Call the department at 248-433-7755 if you have information.