56°
Evangelos Drosos, 50, of Glen Rock, was arrested on Wednesday, April 9 in Paramus following a months-long investigation by the Bergen County Prosecutor’s Office Financial Crimes Unit, Prosecutor Mark Musella said.
The scheme, known as check-kiting, involved Drosos writing self-issued checks from accounts he controlled — knowing there weren’t funds to cover them — and depositing them into different accounts at another bank.
“Drosos then abused the provisional credit by rapidly withdrawing the non-existent funds,” Musella said, “resulting in the theft of approximately $496,788.88.”
The transactions occurred continuously over a period of three weeks, prosecutors said.
Drosos was charged with:
- Second-degree theft by deception
- Second-degree money laundering
He was booked at the Bergen County Jail and is awaiting a court appearance in Bergen County Superior Court in Hackensack.
Click here to follow Daily Voice Nutley and receive free news updates.
