Bucks man admits luxury-car sales scam targeting Russians
Sergey Kapustin pleaded guilty to one count of money laundering before U.S. District Judge Susan D. Wigenton in Newark, N.J.
A Bucks County man pleaded guilty Tuesday in federal court to defrauding Russians and other foreign citizens who paid hundreds of thousands of dollars in a luxury-car sales scam, prosecutors said.
Sergey Kapustin, 49, of Warminster, used businesses he ran in Elizabeth, N.J., to lure foreigners into paying money in advance for luxury automobiles they either never received or were in poor condition or not running.
Kapustin, who was arrested in December 2016, pleaded guilty to one count of money laundering before U.S. District Judge Susan D. Wigenton in Newark, N.J. He is scheduled to be sentenced July 10 and faces a maximum 10 years in prison and $250,000 fine.