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$368,783 Pension Theft Gets Teaneck Vending Machine/Jukebox Company Owner 2½ Years In Fed Pen
A well-known Teaneck businessman must spend 2½ years in federal prison for embezzling $368,783 from the employee pension fund of his vending machine and jukebox company, following his sentencing in Newark.
Howard Preschel, 63, who paid five figures two years ago to settle a copyright infringement suit, admitted in federal court in Newark last August that he swiped the money over the course of at least eight years from CMG Vending Inc., which operated, leased, and rented vending machines throughout New Jersey and New York.
Preschel founded and served as the trustee for the pension fund, from…
Former Florham Park Exec Embezzled $325,000, Authorities Charge
A Florida man is accused of embezzling more than $325,000 from a Florham Park company while working as one of its executives, said authorities who charged him.
Hector Cardona, 49, of Fort Lauderdale, Fla., was the director of travel services for the Troy Corporation when he ran up a bill on the company credit card for personal expenses, Morris County Prosecutor Fredric M. Knapp and Florham Park Police Chief Joseph Orlando said.
Headquartered on Vreeland Road, Troy Corp develops and manufactures industrial performance materials (learn more here).
The corporation reported an allege…
Bookkeeper From Mahwah Charged With Embezzling $100,000 From Ramsey Company
A bookkeeper from Mahwah embezzled nearly $100,000 over five years from a Ramsey door manufacturer, basically covering her personal expenses with the money, authorities charged.
Denise J. Mann, 42, was busted in a “long and complicated” case that took nearly a year to assemble, Ramsey Police Chief Bryan Gurney said Friday.
Working for North Jersey Door Center on Swan Street, Mann “used various business bank accounts in order to make personal payments and purchases” of $94,289.73, Gurney said.
Among the methods, the chief said, Mann:
forged business checks to herself;
paid her Sprint, Ver…
Teaneck Vending Machine, Jukebox Company Owner Admits Stealing $368,783 From Pension Fund
A well-known Teaneck businessman whose vending machine and jukebox company paid five figures last year to settle a copyright infringement suit admitted Wednesday in federal court in Newark that he embezzled $368,783 from the business' employee pension fund.
Howard Preschel, 63, founded and served as the trustee for the pension fund established by CMG Vending Inc., which operated, leased, and rented vending machines throughout New Jersey and New York, U.S. Attorney Craig Carpenito said.
He began skimming the money from the fund as early as November 2010, and by April 201…
Fair Lawn Businessman Charged With Pocketing $250G From Investor
A self-employed Fair Lawn contractor embezzled $250,000 from an investor, authorities charged.
Wilfried Werner, 56, who also works in real estate, received the money as a property investment but used it for himself instead, Bergen County Prosecutor Mark Musella said.
Members of Musella’s Financial Crimes Unit arrested him in Fair Lawn on Tuesday, the prosecutor said.
Werner, previously of Wyckoff, was charged with theft by deception and released pending an Aug. 7 a first appearance in Central Judicial Processing Court in Hackensack, the prosecutor said.
Records show several judgments agai…
Teaneck Vending Machine/Jukebox Company Owner Stole $186,000 From Pension Fund, Feds Charge
A well-known Teaneck businessman whose vending machine and jukebox company paid five figures last year year to settle a copyright suit embezzled $186,123 from his employees’ pension fund, a federal indictment alleges.
A U.S. District Court judge ordered Howard Preschel, 62, remain free on $100,000 unsecured bond after he surrendered to federal authorities on Tuesday, U.S. Attorney for New Jersey Craig Carpenito said.
Preschel served as a trustee for the pension trust fund created by CMG Vending Inc., which operated, leased, and rented vending machines throughout New Jersey an…
