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Accounting

Business
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says
Macy's Employee Hid Up To $154M In Expenses Since 2021, Company Says A Macy’s employee misstated up to $154 million in delivery expenses over several years, the company just said. The development forced the retailer to delay its third-quarter earnings report. The employee, whose name has not been released, has been fired. According to the company, the employee responsible for accounting small package delivery expenses made erroneous accrual entries to conceal the costs from the fourth quarter of 2021 through the most recent quarter. During that time, Macy’s reported a total of $4.36 billion in delivery expenses. The company conducted an independent investi…

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by Joe Lombardi
Obituaries
Morris County Native Michael Brown, 23, Was Set To Begin New Job At EY, Obituary Says Morris County Native Michael Brown, 23, Was Set To Begin New Job At EY, Obituary Says
Morris County Native Michael Brown, 23, Was Set To Begin New Job At EY, Obituary Says Michael Brown, a Morris County native set to start a new career in accounting, died on Wednesday, Aug. 7, 2024. He was 23 years old. According to his obituary on the William Leber Funeral Home website, Michael graduated from  West Morris Central High School before earning a degree from the University of Alabama. He was set to begin a new job at EY in Atlanta, GA. He had checked off an item on a summer bucket list this year, hiking across national parks along the West Coast, camping out or sleeping on a friend's couch, Michael's obituary reads.  In tributes published to socia…

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by Cecilia Levine
Police & Fire
Office Manager Embezzled $350K From North Jersey Synagogue, Feds Say Office Manager Embezzled $350K From North Jersey Synagogue, Feds Say
Office Manager Embezzled $350K From North Jersey Synagogue, Feds Say A 51-year-old Scotch Plains woman is charged with embezzling more than $350,000 from a Union County synagogue she worked at, authorities said.  In 2010, Stacy Margaritondo began working at Congregation Beth Israel in Scotch Plains and was later promoted to bookkeeper and office manager in July 2020, U.S. Attorney Philip Sellinger said.  Margaritondo’s duties included accounting/bookkeeping, payroll, preparing checks for accounts payable, and reporting to the synagogue’s board of directors regarding the synagogue’s financial condition, Sellinger said. From Dec. 2019 to May 20…

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by Sam Barron
Police & Fire
CPA Firefighting Hero From Bergen Admits Role In $650,000 Tax Dodge CPA Firefighting Hero From Bergen Admits Role In $650,000 Tax Dodge
CPA Firefighting Hero From Bergen Admits Role In $650,000 Tax Dodge 𝗨𝗣𝗗𝗔𝗧𝗘: A decorated veteran Bergen County firefighter admitted in federal court on Wednesday that he and his business partner conducted a blatant tax dodge on behalf of a bunch of construction companies that employed their New York accounting firm. Jack N. Sardis, 66, of Englewood Cliffs admitted that he schemed to con the IRS with his partner, George Sanossian, 70, of Scarsdale, out of a small CPA office in a massive Westchester County shopping center. Sardis also offered to do business elsewhere, telling one client "I can meet you at my firehouse,” according to an IRS complaint. The clie…

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by Jerry DeMarco
Obituaries
Former Lyndhurst HS Football Captain Nick Cimicata Dies, 20 Former Lyndhurst HS Football Captain Nick Cimicata Dies, 20
Former Lyndhurst HS Football Captain Nick Cimicata Dies, 20 Former Lyndhurst High School Varsity Football Captain Nick Cimicata died on Thursday, March 16. He was 20 years old. Nick played basketball and football at Lyndhurst High School (Class of 2021), where he was also the vice president of Future Business Leaders of America, his obituary says. Affectionately known as "Nicky Blue," he also served as the coach of Savino's in the township's Little League program, and as a 10U travel coach. At the time of his death, Nick was working toward a degree in accounting at Seton Hall University, where he made Dean's List. Nick Cimicata and Rich Tuero.…

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by Cecilia Levine
Obituaries
'Friend To All:' Mount Olive High School Graduate, Financial Analyst Joseph Barish Dies, 24 'Friend To All:' Mount Olive High School Graduate, Financial Analyst Joseph Barish Dies, 24
'Friend To All:' Mount Olive High School Graduate, Financial Analyst Joseph Barish Dies, 24 Mount Olive High School graduate and financial analyst Joseph R. Barish died in Hoboken on Saturday, Nov. 5. He was 24. Born in New Britain, CT, Joseph was raised in Budd Lake, where he played on the Mount Olive High School basketball team and graduated in 2016, his obituary says. Joseph attended the University of South Carolina, double majoring in finance and accounting while passionately supporting the Gamecocks. He also loved the Boston Red Sox, Boston Celtics, and the New England Patriots. He had been working as a financial analyst at Freshpet in Secaucus, according to his memorial. A…

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by Valerie Musson
News
Accountant From Morris Charged With Sexually Abusing Bergen Pre-Teen Accountant From Morris Charged With Sexually Abusing Bergen Pre-Teen
Accountant From Morris Charged With Sexually Abusing Bergen Pre-Teen A Lyndhurst preteen was sexually abused by an accountant from Morris County, authorities said. Amit Bhatt, 42, of Denville was charged with sexual assault by contact and child endangerment, records show. Bergen County Prosecutor Mark Musella said a joint investigation by members of his Special Victims Unit and Lyndhurst police “revealed that (he) sexually assaulted the victim." Bhatt is accused of masturbating in front of the child, court records show. Bhatt, who has a practice in West Caldwell, was graduated from Rutgers University and received a Master of Business degree in account…

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by Jerry DeMarco