NYC Gazette

Damian Williams, the U.S. Attorney for the Southern District of New York, announced the arrest of Arsen Lusher, a resident of Millstone, New Jersey. Lusher is accused of orchestrating a scheme that defrauded over 20 investors out of more than $5 million from 2017 to 2021. He was arrested and presented before U.S. Magistrate Judge Gary Stein.

U.S. Attorney Damian Williams stated: "For years, the defendant allegedly solicited investors’ funds by representing that he had a hugely profitable trucking business. That wasn’t true, and the defendant instead allegedly used the funds to run a classic Ponzi scheme, enriching himself along the way. When luck ran out, the victims sustained millions of dollars in losses. Today’s arrest serves as a stark reminder that the illusion of success built on fraud and deceit will inevitably fail."

James E. Dennehy, FBI Assistant Director in Charge of the New York Field Office, said: "For four years, Arsen Lusher allegedly defrauded numerous victims of more than $5 million by cycling their investments to conceal the business’s inability to produce its promised returns and altered official tax documents to reflect inflated balances in furtherance of this ploy. The alleged empty assurances allowed the defendant to wrongfully haul in funding from investors and selfishly benefit from their losses."

Thomas Fattorusso, IRS-CI Special Agent in Charge of the New York Field Office, remarked: "It’s alleged Lusher acted with impunity for years, deceiving over 20 investors out of more than five million dollars. He created a ‘get-rich-quick’ scheme then sold his victims a dream of high returns on their investment."

Francis J. Russo, CBP Director at the New York Field Office commented: "U.S. Customs and Border Protection is proud to have played an important role in this investigation that resulted in the takedown of an elaborate conspiracy to defraud the United States."

According to allegations unsealed today in Manhattan federal court, Lusher falsely claimed he operated a profitable trucking business with large retailer contracts while using new investments to pay earlier ones in typical Ponzi fashion.

Lusher also falsified documents including altering bank emails to inflate account balances significantly beyond actual amounts.

He faces charges including wire fraud carrying up to 20 years imprisonment and aggravated identity theft with an additional mandatory two-year sentence if convicted.

The case is prosecuted by Assistant U.S. Attorney Joseph H. Rosenberg under Mr. Williams's supervision at the General Crimes Unit.

The complaint contains accusations only; Lusher remains presumed innocent until proven guilty.