A New Jersey man who owned moving companies has admitted cheating customers by low-balling estimates and then jacking up prices once the goods were on his trucks.
Rami Zubidat of Clifton on Wednesday pleaded guilty in federal court to conspiracy to commit wire fraud.
Prosecutors say the 31-year-old raised prices as high as 400 percent above the initial estimates throughout the course of hundreds of moves. Prosecutors say the scheme netted over $1 million.
Zubidat faces up to 20 years in prison and $250,000 fine when he’s sentenced in September.
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