Crime & Safety
Man Who Admitted Stealing $2.5M From Moorestown Company Sentenced
The accounting manager for a Moorestown company previously admitted to stealing $2.5 million from his employer for 14 years.
MOORESTOWN, NJ — An 80-year-old Hainesport man has been sentenced to five years in state prison after admitting to stealing more than $2.5 million from a Moorestown company he worked for as an accounting manager for 14 years, authorities announced on Tuesday.
Charles Esposito previously pleaded guilty to second-degree theft by deception and third-degree failure to pay state income taxes, according to Burlington County Prosecutor Scott Coffina.
Esposito must make full restitution and file several years of amended state income tax returns, the prosecutor said.
Officials at OldCastle BuildingEnvelope opened an investigation after concerns were raised about a hand-written check for $18,500 that had been signed by Esposito and contained another signature that appeared to be a forgery in April 2019, according to authorities.
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An investigation revealed that Esposito was able to circumvent the company's check issuance procedures and divert $2,537,655 for his personal gain, according to authorities. He admitted to conducting 243 fraudulent transactions between 2005 and April 2019, authorities said.
“Theft of any kind can be devastating to a company,” Coffina said. “The Prosecutor’s Office and our law enforcement partners stand ready to assist businesses as needed when criminal activity is suspected.”
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Oldcastle BuildingEnvelope supplies products and services used to close in a structure, provide access, security and safety, and finish out the interior. This includes fabricated glass, architectural hardware and architectural metal systems. The company has operations in 32 countries.
Assistant Prosecutor Joseph Remy represented the state at Esposito’s sentencing.
The investigation was conducted by the Moorestown Township Police Department and the Burlington County Prosecutor’s Office’s Financial Crimes Unit, with assistance from the New Jersey Division of Taxation.
The lead investigators were Moorestown Township Police Chief Lee R. Lieber and Moorestown Township Police Detective Donald Brauckmann.
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