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In May 2021, a 91-year-old Clarksburg resident loaned Asbury resident Christopher Sterlacci $400,000, Hunterdon County Prosecutor Renée Robeson and Hunterdon County Chief of Detectives Timothy Drew said.
Several vehicles and properties were put up as collateral by Sterlacci for the loan, authorities said. After defaulting on the terms of the loan, it was discovered that the properties and vehicles were not owned by Sterlacci, authorities said.
The victim reported the incident to the Hunterdon County Prosecutor’s Office in March 2023, authorities said. Sterlacci was charged with theft by deception, failure to file a tax return and failure to pay taxes, authorities said.
Matthew Adams, an attorney for Sterlacci, said Sterlacci paid back the loan with interest, with a copy of the settlement obtained by Daily Voice. Adams said this is a civil case that has been settled and does not belong in criminal court.
According to the settlement agreement, Sterlacci agreed to pay $501,126.63 plus $14,442.97 in interest. Both parties agreed Sterlacci had provided full restitution on Monday, Nov. 4.
The settlement says three unique vehicles used as collateral: a 1981 Delorean Time Machine, a 1966 Batmobile, and a Ghostbusters Hearse.
"Mr. Sterlacci has made good on the relevant loan, and repaid the principal and interest due," Adams said. "Once the relevant facts come out, we have every confidence that that this matter will be resolved in a manner favorable to Mr. Sterlacci.
"We greatly look forward to our day in court, where all facts, including very troubling debt collection practices that included threats of physical violence to Mr. Sterlacci and his family, can be laid out for the court. This case epitomizes why individuals charged with crimes in our society are presumed innocent unless or until their guilt is proven beyond a reasonable doubt.”
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