Former CFO Arrested And Charged With Embezzling Millions Of Dollars From Construction Company And

[TexasTowelie]

Former CFO Arrested And Charged With Embezzling Millions Of Dollars From Construction Company And Defrauding Lenders


NEWARK, N.J. – The former chief financial officer (CFO) of a Sussex County retail construction company was arrested today for defrauding the company and several lenders, including by embezzling millions of dollars for his own personal benefit, U.S. Attorney Craig Carpenito announced.

Jonathan Baker, 38, of Green Township, New Jersey, was indicted on five counts of wire fraud and three counts of money laundering. He was arrested this morning by special agents of the FBI and is scheduled to appear this afternoon before U.S. Magistrate Judge Joseph A. Dickson in Newark federal court.

According to documents filed in this case and statements made in court:

Baker held the title of CFO of Victim-Company 1, a small, privately held retail construction company located in Sparta, New Jersey. The company acted as a construction manager and a general contractor for construction projects, such as new business offices, retail spaces, and restaurants. Baker also held the title of manager of Victim-Company 2, which held 100 percent of the voting and equitable interest in Victim-Company 1.

From 2015 through 2018, Baker defrauded both companies and several commercial lenders, embezzling millions from the companies and fraudulently inducing commercial lenders into providing funds to Baker and his associated entities through fraudulent use of Victim-Company 1’s name, bank statements, balance sheet, and bank accounts.

Read more: https://www.justice.gov/usao-nj/pr/former-cfo-arrested-and-charged-embezzling-millions-dollars-construction-company-and