New Jersey's Bureau of Securities and state attorney general Gurbir S. Grewal have filed suit against a New Jersey resident who is accused of defrauding more than $1.3m from investors who bought shares in his online gaming companies.

Sandy J. Masselli Jr., of Old Bridge, New Jersey serves as chief executive of Carlyle Entertainment, formerly Carlyle Gaming & Entertainment, which claims to have offices in Charleston, South Carolina and Vancouver, British Columbia.

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