A Paramus NJ man pleaded guilty to theft crime charges after allegedly stealing more than $1 million from a Somerset New Jersey transportation business.
The suspect is a 48-year-old man from Paramus, New Jersey. He worked for Roadtex Transportation in Somerset and reportedly embezzled funds from the business by overbilling over a three-year period.
The suspect’s position with the Somerset NJ company was to set up contracts and arrange pricing for the business’ trucking routes. These responsibilities gave him access to company funds.
The owners of the company eventually noticed the missing funds and contacted law enforcement. Detectives then determined that the suspect was depositing the stolen money into a personal bank account.
Police subsequently arrested the suspect and charged him with theft of movable property.
The suspect avoided trial in Somerset County Superior Court by reaching a plea agreement with prosecutors. The suspect pleaded guilty to second degree theft charges, while prosecutors agreed to drop more serious charges against him.
When the suspect appears in court in June for formal sentencing, he could be sentenced to 5-10 years in NJ State Prison. Beyond that, the suspect will be required to pay $80,000 in restitution to the Somerset trucking company.
For more information about this case, read the NJ.com article, “N.J. Man Pleads Guilty in Alleged $1M Theft of Company Funds.”