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Feds: Ex-Owner, CEO 'Pilfered' $3.9M From Bergen Pharma Company To Fund Lavish Lifestyle Feds: Ex-Owner, CEO 'Pilfered' $3.9M From Bergen Pharma Company To Fund Lavish Lifestyle
Feds: Ex-Owner, CEO 'Pilfered' $3.9M From Bergen Pharma Company To Fund Lavish Lifestyle The former founder and CEO of a Bergen County pharmaceutical firm embezzled $3.9 million from the business to help pay credit card charges, property taxes and his kid's private school tuition, an indictment returned by a federal grand jury on Friday says. John Klein, 76, was arrested by federal agents last December. By that point, he'd been sued in federal court by several people with whom he either worked or collected investment money from at Cambridge Therapeutic Technologies in Teaneck, records show. Klein -- now of Tampa, Florida -- "looted and pilfered" the company to fund a "lavish" …

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by Jerry DeMarco
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Feds Charge Bergen Drug Company Owner With Embezzling $3.9M Feds Charge Bergen Drug Company Owner With Embezzling $3.9M
Feds Charge Bergen Drug Company Owner With Embezzling $3.9M Federal agents arrested the former chief executive officer and owner of a Bergen County pharmaceutical firm on Monday and charged him with embezzling millions of dollars from the company, authorities confirmed. John Klein, 75, transferred $3.9 million into an account that he tapped, in part, to pay credit cards charges for him and his wife, as well as for his kid's tuition, Acting U.S. Attorney Rachael A. Honig said. Formerly of Alpine and currently living in Palisades Park, Klein has been sued in federal court by several people with whom he either worked or collected investment money from …

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by Jerry DeMarco