Feds: NJ Man Charged With Stealing $2.3M From Employer
A Middlesex County man has been charged for allegedly embezzling over $2.3 million from a New York-based company where he had been the controller since 2001.
U.S. Attorney Philip Sellinger says 61-year-old Gerard Beauzile of South Plainfield is facing ten counts of wire fraud.
From 2001 through February 2021, Beauzile worked as controller, heading a New York-based company’s accounting department. On a monthly basis, from 2014 through December 2020, Beauzile issued company checks to himself, and deposited those checks into his personal bank account at bank branches in New York, near his employer’s headquarters.
Officials say Beauzile issued nearly 140 checks to himself totaling over $2.3 million.
Beauzile hid his scheme by failing to enter some of the checks into the victim company’s accounting system; causing checks to appear as though they were made payable to vendors when, in fact, Beauzile issued them to himself; changing the vendors invoices to correspond with the accounting of those checks; and falsifying the victim company’s bank account statements.
Each count of wire fraud is punishable by up to 20 years in prison and a $250,000 fine.
Beauzile appeared in court on Monday and was released on a $200,000 unsecured bond.
The public is reminded that charges are accusations and all persons are considered innocent until proven guilty in a court of law.