An Ocean County woman confesses to concealing over $400-thousand dollars in profits she made from a ponzi scheme investment. 51-year-old Marjorie Parise of Manahawkin also admitted in a Trenton Federal courtroom Wednesday to attempting to hide millions of dollars in real estate holdings along with other personal assets from a Bankruptcy Trustee.

According to the State's U.S. Attorney's office in 2003, Parise and her husband invested $115,750 with Global Trading Investments, LLC, and received in return, profits totaling $429,154.91. However, the owners of Global Trading were operating a ponzi scheme and the profits Parise received were actually investments of other individuals.

In 2006, a judgment was entered against Parise requiring her to return the profits. However, the state's U.S. Attorney's office says Parise took numerous steps to fraudulently conceal a significant amount of funds and assets from the trustee, including making false statements and omissions during a deposition in the bankruptcy proceeding.

In July of 2008, Parise filed for individual chapter seven bankruptcy protection. On her bankruptcy petition, she fraudulently failed to report millions of dollars in real estate holdings plus hundreds of thousands of personal assets.

Parise faces a maximum penalty of five years in prison and a $250-thousand dollar find for bankruptcy fraud. Sentencing is scheduled for May.