A former construction company official has admitted stealing more than $2.5 million from the firm over a 14-year period.
Charles Esposito, 79, of Hainesport, pleaded guilty Wednesday to theft by deception and failure to pay state income taxes. In return for his plea, the Burlington County Prosecutor’s office will recommend that he receive a seven-year state prison term when he’s sentenced Sept. 11.
Esposito was an accounting manager for the firm, which began investigating last April after concerns were raised about a hand-written check for $18,500 that had been signed by Esposito but also had another signature that appeared to have been forged.
The probe showed Esposito was able to circumvent the company’s check security procedures to obtain more than $2.5 million by making 243 fraudulent transactions between 2005 and April 2019, prosecutors said.
Esposito has repaid more than $190,000, authorities said, but still must repay the company $2,328,516. He also was ordered to file several years of amended state and federal income tax returns.
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