CFO for financial tech company in New Jersey embezzled six figures, prosecutors say
🔵 Former CFO for Matawan based company sentenced for embezzlement
🔵 Brick resident had access to all of their bank accounts
🔵 He embezzled hundreds of thousands from his employer
A former CFO for a Matawan based financial services technology company who admitted to embezzling hundreds of thousands of dollars has been sentenced to two years of probation.
Scott Lifshitz, 60, of Brick Township, who is also a CPA, allegedly used his access to the company's bank accounts to write checks to himself and wire money to his own bank accounts, according to Monmouth County Prosecutor Raymond Santiago.
He previously pleaded guilty to 2nd degree Theft of Movable Property prior to the two year probation term and paid $833,000.00 in restitution to the company.
In September of 2022, Lifshitz was terminated from the company for the unauthorized transactions and was unable to drop off two more checks into his own accounts at that time as the company removed him as an authorized signatory on their accounts.
Detectives with the Monmouth County Prosecutor’s Office investigated the company reports which included subpoenaing bank records and other documents to confirm the theft between September of 2020 and September of 2022.
Monmouth County Assistant Prosecutor Diane Aifer handled the case and Lifshitz was represented by Charles J. Uliano, Esq. of West Long Branch.