Former manufacturing executive charged in alleged million dollar company theft
Trenton, NJ – A senior executive accused of quietly draining company funds to bankroll a rival operation is now facing multiple felony charges, according to New Jersey prosecutors.
State officials announced that Jeffrey Lawrence, 34, of Far Hills, was charged in connection with the alleged theft of more than $1 million from a Monmouth County–based industrial manufacturing company where he held multiple leadership roles. Prosecutors say the alleged scheme unfolded while Lawrence was entrusted with high-level financial authority inside the company.
According to charging documents, Lawrence served as vice president, treasurer, and corporate secretary. Investigators allege he opened unauthorized bank accounts in the company’s name and used them to move large sums of money without approval.
Authorities allege that through a series of transactions in January and March of 2022, Lawrence transferred approximately $1 million into a separate company he controlled, which prosecutors say was intended to operate as a competing business. To conceal the alleged theft, investigators say Lawrence fabricated internal corporate records, including purchase orders and invoices, to make it appear that legitimate business transactions had occurred when they had not.
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Lawrence was charged by complaint with two counts of theft by unlawful taking and two counts of misconduct by a corporate official, all second-degree offenses. Each count carries a potential sentence of up to 10 years in state prison and fines of up to $150,000.
The case was investigated by the Division of Criminal Justice’s Office of Securities Fraud and Financial Crimes Prosecutions, with assistance from the U.S. Postal Inspection Service. Prosecutors emphasized that the charges are allegations and that Lawrence is presumed innocent unless proven guilty in court.
The investigation remains ongoing. Anyone with information related to the case is asked to contact the Division of Criminal Justice tip line at 800-277-2427 or submit information by email to OSFFCP@njdcj.org.
Key Points
- A former manufacturing executive is accused of stealing more than $1 million from his employer
- Prosecutors allege the money was used to start a competing business
- The defendant faces multiple second-degree felony charges
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