AA Member Who Bilked Millions Is Sentenced In Ponzi Scheme

New Jersey Alcoholics Anonymous member Jenifer Devine ripped off millions from some of the people she met at her New Jersey AA meetings. She is described to be an alcoholic, bipolar and suicidal and is now hospitalized to get help. Jenifer still had the mental ability to  deviously lure AA members into her web of lies and gain their trust to bilk them.

Stories of AA members getting financially scammed by fellow members is nothing new. It is on the list of the many 12 step predatory behaviors that have been documented.

If you go to AA/NA/CA meetings, please be wary of people asking to borrow money or encourage you to invest in their financial schemes. Don’t do it! You are not an ATM machine. Addicts by nature are very manipulative and deceitful. Protect yourself financially and physically. No need to let your guard down for sponsors either!

Fair Lawn resident receives sentence in Ponzi scheme

WEDNESDAY, JANUARY 18, 2012, 1:54 AM
Fair Lawn – A borough resident who bilked investors out of $2 million in a Ponzi scheme was sentenced to more than three years last week.

Jenifer Devine, 39, of Fair Lawn – the owner and operator of Devine Wholesale in Carlstadt – admitted to wire fraud charges in U.S. District Court on Sept. 15 in connection to her $8 million Ponzi scheme. She was ordered by U.S. District Court Judge Claire C. Cecchi on Jan. 11 to pay more than $2 million in restitution to her 10 victims, some of whom she meet through Alcoholics Anonymous.

Cecchi rejected pleas that Devine be allowed to say goodbye to her two children and immediately remanded her into custody. Devine, who has a history of alcoholism and bipolar disorder, was hospitalized last week for suicidal thoughts, authorities said.

Cecchi said Devine would be sent to a facility where she can receive appropriate care.

Devine raised more than $8 million from investors between December 2008 and September 2010 by promising high returns – approximately 25 percent – to investors in New Jersey and throughout the United States within 30 to 60 days. Devine convinced investors that she was in the business of buying and selling wholesale clothing and electronics for profit, but actually did virtually no legitimate business, authorities said.