ORTLEY BEACH, NJ – Ocean County Prosecutor Bradley D. Billhimer recently announced that John Hammond, 70, of Ortley Beach, was sentenced to five years in New Jersey State Prison for Theft by Deception. Hammond previously pleaded guilty to the charge before Judge Guy P. Ryan on September 23, 2022.
In addition to his prison sentence, Hammond will be required to make restitution to the victim in the amount of $211,415.98.
An investigation by the Toms River Township Police Department Detective Bureau revealed that between May 2017 and February 2019, Hammond deceived a friend by convincing him to invest over $200,000 with him, promising large returns on his investment.
The victim deposited large sums of money into Hammond’s bank account under the false impression that the money would be transferred into an investment account set up in his name.
However, Hammond never invested the money and used it for his personal benefit.