The 34-year-old Atlantic Highlands resident was also ordered by a Superior Court judge in Freehold to reimburse the publishing and advertising firm Ansorge Unlimited to the tune of $291,000.
A Red Bank dentist and his office-manager wife were acquitted earlier this week of all charges in a Medicaid fraud case, the Asbury Park Press reports.
After a four-week trial, a jury in state Superior Court in Freehold found dentist Marc Weber not guilty of all four counts that remained against him following an 11-count indictment a year ago, the Press reports. Weber’s wife, Jennifer Barbers, was acquitted on all five counts left against her.
Weber’s Broad Street dental practice, Weber Dental Associates, was also acquitted of all charges, which included health care claims fraud. Barbers alone faced charges of identity theft and theft by deception.
As part of a plea bargain, Rebecca Cirillo, 34, of Atlantic Highlands, admitted embezzling the funds from the publisher of Red Bank Red Hot magazine over the course of more than two years. She also pleaded guilty filing a fraudulent tax return.
Prosecutors are asking that Cirillo get five years in prison when sentenced in January by Monmouth County Superior Court Judge Richard W. English.
A Middletown man was arrested yesterday on check-kiting charges that authorities say defrauded a Shrewsbury bank branch of nearly $93,000.
Sandy Masselli, 48, was held on $100,000 bail and ordered to surrender his passport as a condition of being released, according to the Monmouth County Prosecutor’s office, which announced the arrest Thursday afternoon.
Forty-one-year-old financial advisor Stephen Severio of Fair Haven was sentenced to seven years in prison Friday after admitting that he defrauded clients out of more than $700,000, the Asbury Park Press reports.
Many of the 34 clients Severio admitting bilking were elderly, according to the Monmouth County Prosecutor’s office, which handled the case.
According to the Press, Severio’s lawyer, Mitchell Ansell:
described Severio as a gambling addict and otherwise law-abiding citizen who lost his career and family, and ultimately all the money, due to his addiction.”What fuels him is in no way an excuse for what he did,” Ansell said.
The adjoining properties a former Texaco station, the former home of the Wicker Rose furniture store and a small house, all at the juncture of Willow Drive and Sycamore Avenue have significant underground contamination issues resulting from fuel leakage from the filling station and other sources.
The absence of bids was “not exactly what we were looking for,” said Ray Smith, of Stafford Smith Realty, which managed the auction on behalf of a court-appointed bankruptcy trustee. “But in light of the environmental conditions there, it’s not a big surprise.”
A stockbroker from Fair Haven is looking at seven years in prison under the terms of a plea deal he accepted yesterday for pocketing nearly $700,000 he swindled from 31 clients, the Monmouth County Prosecutor announced yesterday.
Here’s the text of a press release from the office of Prosecutor Luis Valentin:
On February 16, 2010, Stephen Severio, 40, of Fair Haven, N.J., appeared in Monmouth County Superior Court and pled guilty to criminal charges contained in two indictments and one accusation. The charges relate to thefts Severio committed against his clients while he was employed as a financial advisor for Merrill Lynch.
A Red Bank man appears headed into the state prison system he admitted scamming out of $153,000, the New Jersey Attorney General‘s office announced yesterday.
Mark Stermer, 43, pleaded guilty Tuesday before state Superior Court Judge Ira E. Kreizman in Freehold to making false representations in connection with state contracts awarded by another man identified as a Red Banker, former state Department of Corrections administrator Gerald T. Kennedy.
Kennedy, also of Red Bank, pleaded guilty last month to orchestrating a wide-ranging bid rigging and kickback scheme that steered some $630,000 in state business to friends.
Stermer, 43, and his company, SteelGrey LLC, each pleaded guilty to a second-degree charge of making false representations for government contracts.
One day after he pleaded guilty to federal charges arising from an $8 million investment scam, Fair Haven resident Maxwell Smith was in state court Wednesday, owning up to more allegations.
The 69-year-old former financial adviser at Cantone Research in Tinton Falls faces up to 15 years on the state charges when he’s sentenced on March 5, according to an announcement from the office of Attorney General AnnE Milgram.
He faces a 20-year sentence on related federal charges, to which he pleaded guilty on Tuesday, and is scheduled for sentencing in that case on February 26. Under a “global resolution” worked out between prosecutors and Smith’s lawer, the sentences will be served concurrently.
Maxwell Smith, a 69-year-old financial advisor and Fair Haven resident, pleaded guilty to fraud charges yesterday, admitting he stole at least $8 million from clients.
He faces up to 20 years in prison when sentenced by U.S. District Judge Mary L. Cooper in Trenton on February 26. Meantime, he’s free on $1 million bail, according to a press release issued by the U.S. Attorney’s office in Newark.
Smith, who worked at Cantone Research in Tinton Falls until last April, admitted to Cooper that he set up a phony investment fund that purportedly had $300 million under management as a means of attracting investments from clients.
Forty-year-old Steven Severio of Fair Haven is alleged to have persuaded investors to cash out of some holdings and roll over the proceeds into new investments, for which he promised returns to 15 to 20 percent, according to a statment issued by Monmouth County Prosecutor Luis Valentin.
Instead, Severio desposited the funds into his own account, without making any investments. In some cases, he cashed the checks at a local check-cashing service, Valentin said.