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Woman arrested in Alpine using finance whiz George Sorros’ name charged with $450,000 Ponzi scheme

Photo Credit: Bergen County Prosecutor

YOU READ IT HERE FIRST: A judge ordered a woman held on $100,000 cash bail after investigators charged her with running a Ponzi scheme with $450,000 she claimed went to a hedge fund handled by financier George Sorros.

George Sorros, Dunya Predovan (MUGSHOT: Bergen County Prosecutor)

Dunya Predovan, 57, of Manahawkin originally was arrested by Alpine police on theft and forgery charges on April 14. CLIFFVIEW PILOT withheld information about the arrest while an investigation continued.

Today, Bergen County Prosecutor John L. Molinelli announced the results, which include theft and issuing bad check charges against Predovan, who he said told clients their investments were going into the pharmaceutical business.

Predovan, who told them she worked for Sorros in the 1980s, ran the Ponzi scheme from late 2005 until nearly the end of last year, Molinelli said.

Investigators checked with Sorros, the 81-year-old Hungarian-American business magnate, investor and philanthropist known as “The Man Who Broke the Bank of England” because of his $1 billion in investment profits during the United Kingdom’s 1992 “Black Wednesday” currency crisis.

But Sorros, who has donated more than $8 billion to human rights, public health, and education causes, said he’d never heard of Predovan or the purported hedge fund, the prosecutor said.

“To date, none of the victims have received any of their money,” Molinelli said this morning.

Predovan, who is married, is being held in the Bergen County Jail, pending further court action.

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