Friday, May 29, 2020

Click here to
sign up for our newsletter!

The Journal Publications will be operating remotely effective Thursday, March 19, 2020.

May 20, 2020

CFO of a Monmouth Cty. Construction Company Charged with Embezzling Nearly $700,000

The chief financial officer at a Wall-based construction company is charged with embezzling over $660,000 from the company over a two-year period for his own personal benefit, announced Monmouth County Prosecutor Christopher J. Gramiccioni.

Kenneth Schwarz, 69, of Howell, a 25-year employee of the Wall-based construction company, was charged Monday with second degree Theft and fourth degree Falsifying Records. The charges stem from a joint investigation by the Monmouth County Prosecutor’s Office and Wall Township Police Department. The investigation determined that, between January 2016 and December 2018, Schwarz embezzled over $660,000 by depositing checks from the company’s bank account into his personal bank account and concealed the theft by falsifying the company’s records.

If convicted of the second degree offense, Schwarz faces up to 10 years in a New Jersey state prison. If convicted of the fourth degree offense, he faces up to 18 months in state prison.