Final Judgment Secured Against New Yorker Who Duped New Jersey Investors in $550,000 Fraud Scheme

Sam A. Antar of New York, a New Yorker that defrauded more than half-a-million dollars from investors, was served with a final judgment on May 17, 2020 by the U.S. District Court for the Southern District of New York. Antar was previously charged by the Securities and Exchange Commission with fraud. Many of his victims were friends and acquaintances in the Syrian Jewish community living in New Jersey.

The Deception

Imagine being deceived a friend, or an acquaintance. Antar promised that he would invest the money his victims had earned in shares in companies yet to be listed, and sell them to buyers who were already identified for a high premium after a short amount of time. This promise proved to be a mirage. According to the SEC complaint, Antar did not use the funds of investors to buy shares in emerging companies or to make any other investment.

Where did the money go?

You may have wondered what happened to the money that you invested. Antar used his money to gamble, give gifts to family, pay for the wedding of a daughter and make Ponzi payments to early investors. Antar, instead of nurturing the nest-egg his investors trusted him with to grow and protect, broke it open and spent the contents on his own pleasure.

The Judgment

Antar is permanently prohibited from violating federal securities laws. This includes Section 10b-5 of the Securities Exchange Act of 1974 and Section 10b-5 of the Securities Act of 1932. Antar also has to pay disgorgement in the amount of $567,000, and prejudgment Interest of $88,754. Offsets are allowed for the amounts Antar has paid pursuant to an order of restitution in a parallel criminal case.

stock newsAD - Recover your investment losses! Haselkorn & Thibaut, P.A. is a national law firm that specializes in fighting ONLY on behalf of investors. With a 95% success rate, let us help you recover your investment losses today. Call now 1-888-784-3315 or visit to schedule a free consultation and learn how our experience can help you recover your investment losses. No recovery, no fee.

Criminal Charges

  • Antar was also charged with criminal offenses by the New Jersey Office of the Attorney General Division of Criminal Justice, in parallel to the SEC.
  • Antar plead guilty on April 22, 2022 to a number of charges.
  • Antar was sentenced on December 9, 2022 to three years imprisonment and ordered to pay $15,000.

This case is a warning to all investors that they should be vigilant and thoroughly investigate any investment opportunity. The case highlights the importance of regulatory bodies, such as SEC, in protecting investors.

Scroll to Top