Search Site
Menu

Property Manager Charged with Embezzling and Laundering Stolen Funds from NJ Co-op

A Mercer County resident was recently indicted on twelve charges for allegedly embezzling and laundering stolen money from his prior client, Hamilton Park CO-OP.

On April 1, 2022, a Mercer County grand jury indicted the subject on charges of first-degree financial facilitation of criminal activity, second degree theft by unlawful taking, second-degree theft by failure to make required disposition of property received and other related offenses.

According to the State, the suspect allegedly stole funds and laundered money from the the co-op from 2014 through 2018 when he served as the property manager. Financial records allegedly reveal that he stole $925,403.00 directly through unauthorized checks and transfers and allegedly laundered $1,149,7874.00.

The government alleges his tax returns stated he made $64,000 to $79,000 within this timeframe.

Homeowner associations can generate a lot of money from monthly association fees. They have an obligation to ensure that the persons hired to handle the money do not steal these funds. Regular CPA audits, plus smart operating procedures, are required to ensure that these crimes do not occur.

Our Attorneys

In The Media

  • Gulf Coast Town Center facing foreclosure

    Naples Daily News, September 16, 2015

    Wells Fargo filed a lawsuit Sept. 8 against an affiliate of CBL & Associates, the owners of the decadeold, 1.2 million-square-foot mall in south Fort Myers for a $190.9 million unpaid loan. The center has 94 stores on 204 acres, with such anchors as Super Target, Belk, Best Buy, Dick’s Sporting Goods, Marshalls and Costco...

    Read More
  • Town liable for private company's leaking underground tanks, court rules

    NJ.com Jul 26, 2017

    CRANFORD -- A couple that owned a businesses in town and became sick from leaking underground tanks owned by an adjacent business can sue the township for damages because the tanks were partially ...

    Read More
  • Dark Waters: How a Class Action Catapulted NJ to Forefront of 'Forever Chemicals' Battle

    NJ Law Journal Jan 09, 2020

    As property owners become increasingly aware of PFAS contamination, and as individuals exposed to PFAS learn of the health risks associated with exposure, liability will likely affect entire supply chains.

    Read More
  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
Contact Our Firm

Quick Contact Form