Vincent Dispoto Jr.
Owner of Giddeon Financial Services
What the public record shows
Vincent Dispoto Jr., 68, formerly of Belmar, New Jersey, owned and operated Giddeon Financial Services, a purported investment firm. He was sentenced on August 26, 2025 to 151 months (over 12.5 years) in prison for a fraud scheme that ran for more than three decades, defrauding more than 60 victim investors — many elderly — of more than $6 million. This is a criminal conviction — not an allegation.
The scheme
According to the U.S. Attorney’s Office for the District of New Jersey:
- Beginning around 1988, Dispoto told victims their money would go into low-risk investments with guaranteed rates of return — specifically municipal bonds and certificates of deposit.
- In reality, he never invested the money as promised. Instead he made Ponzi-style payments to earlier victims, falsely presenting them as investment “returns.”
- He misappropriated victim funds to fund his gambling and other personal expenses.
Why “guaranteed municipal bonds and CDs” is a specific red flag
Real municipal bonds and CDs are boring, low-yield, and independently verifiable — you can confirm a specific bond exists and check CD rates at any bank. A promoter who takes your money to “put into” these instruments but never shows you the actual account or custodian statements has removed the one thing that makes them safe: independent proof they exist.
Why we rate this 1 / 10 — Avoid
A 151-month sentence for a Ponzi scheme that ran for over 30 years, disproportionately harming elderly investors who believed they held the safest possible instruments.
Verify it yourself
- Ask for statements directly from the bond trustee or bank, never only from the advisor.
- FINRA BrokerCheck / SEC IAPD — check registration before trusting anyone claiming to manage “safe” fixed-income investments.
Bottom line
Convicted and sentenced. Even “boring, safe” investments like municipal bonds and CDs need independent proof of custody — three decades of trust were built on statements no one ever verified.
Sources
People also checked
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Alan John Hanke
Sole member of IOLO Capital
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Allen Stanford
Former chairman of Stanford International Bank
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