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Charles Esposito of Hainesport was sentenced to five years in prison for embezzling millions of dollars over a 14-year period, according to Burlington County Prosecutor Scott Coffina.
The octogenarian was working as an accounting manager in Moorestown, NJ, when the alleged thefts occurred, Coffina said.
The alleged thefts were uncovered by Oldcastle BuildingEnvelope Inc., which has offices and production plants in other states including New York and Connecticut.
Oldcastle employs about 6,600 workers in Connecticut and on Long Island, according to its web sire. They produce sun-resistant buildings materials and hurricane -resistant windows.
The state prison sentence, announced Tuesday by Coffina, was handed down last month in Superior Court in Mount Holly,
Esposito pleaded guilty in February 2020 to theft by deception and failing to pay Income taxes, the prosecutor said.
As part of his plea agreement, Esposito was ordered by Superior Court Judge Christopher J. Garrenger to return money stolen and file several years of amended state income tax returns, Coffina said.
Officials at Oldcastle BuildingEnvelope began an investigation in April 2019 after someone flagged a handwritten check for $18,500, Coffina said.
That check allegedly was that signed by Esposito and contained another signature that appeared to have been forged, the prosecutor said.
Esposito managed to circumvent the company’s check issuance procedures and divert $2,537,655 for his personal use, Coffina said.
The accountant was accused making 243 fake transactions between 2005 and April 2019, the prosecutor said, adding, “Theft of any kind can be devastating to a company,”
The prosecutor said his office and other law enforcement agencies "stand ready to assist businesses as needed when criminal activity is suspected.”
Moorestown Township Police Chief Lee R. Lieber and Detective Donald Brauckmann were lead investigators. They were assisted by the New Jersey Division of Taxation.
In addition to hurricane-resistant windows, Oldbridge designs, manufactures and installs digital sunlight controls for skylights, glass and walls.
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