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FBI: Jersey City Stockbroker Scams Investors Out Of $600,000 With Bogus Ticket-Reselling Biz

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FBI agents busted a now-former stockbroker from Jersey City who they said ran a side hustle that scammed victims out of more than $600,000 through a fictional ticket-reselling business.

Michael J. Clarke, 62, lost his job once it came to light that his promises of getting discounted tickets that he could later sell at premium rates for concerts and sporting events — as well as seat licenses to the U.S. Open — were lies, authorities said.

Clarke, who was a licensed municipal securities trader, promised victims who fronted him the money for the purported ticket brokerage that they’d get a portion of the profits, Acting U.S. Attorney Rachael A. Honig said.

He pocked much of the money for himself and used the rest to repay previous investors in the bogus business, a complaint on file in U.S. District Court in Newark says.

Clarke ducked customers looking to retrieve their investments while issuing worthless checks to some of…

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