The Old Bridge man was charged in a federal complaint with wire fraud and obstructing justice through a pyramid scheme. Each count carries up to 20 years in prison and a $250,000 fine.
Authorities had no immediate information on a defense lawyer. A bail hearing is expected on Wednesday.
Federal prosecutors say Puff's company, based at times in Perth Amboy and Woodbridge, cost hundreds of investors about $55 million and financial institutions about $25 million. Six others have already pleaded guilty in the scheme.
