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: New Jersey Criminal Defense Blog

Jersey City Accountant Charged with Embezzling $1M

By Lependorf & Silverstein

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An article from nj.com discusses the recent guilty plea of a 60-year-old accountant to embezzling $1 million in cash and stock from Bel Fuse, Inc. The man was a senior accountant for the Jersey City firm which manufactures telecommunications equipment. Based on the article, in pleading guilty on November 19, 2009 to wire fraud charges in federal court in Trenton, the accountant now faces up to 33 months in prison under the conditions of his agreement with prosecutors. However, judges are not limited to such agreements and have wide discretion when imposing the man?s sentence, which is scheduled to be handed down on February 18, 2010. Apparently, the accountant took 30,000 shares of stock and $500,000 from the retirement, stock-option and profit sharing plans of Bel Fuse, Inc...continue to full post

Full post as published by New Jersey Criminal Defense Blog on December 29, 2009 (boomark / email).

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