CLINTON, N.J. (Hunterdon County) — A 67-year-old Hunterdon County man who operated a college consulting and financial planning business in Somerset County has pleaded guilty to running a Ponzi scheme that defrauded at least 65 victims out of more than $9.7 million over more than a decade, federal authorities announced.
Paul Beers, of Clinton, pleaded guilty on Thursday to one count of wire fraud before U.S. District Judge Robert Kirsch in Trenton federal court, according to U.S. Attorney Robert Frazer.
Federal prosecutors said Beers owned and operated KJM Financial in Bedminster Township from as early as January 2015 through November 2025. The business provided college planning, consulting and financial planning services…