FREEHOLD – A Howell man who worked for a Wall based construction company for 25 years has been charged with embezzling over $660,000 from the company over a two-year period.
Monmouth County Prosecutor Christopher J. Gramiccioni reported that Kenneth Schwarz, 69, was the chief financial officer at the construction company before he was charged with second degree theft and fourth degree falsifying records.
The charges stem from a joint investigation by the Monmouth County Prosecutor’s Office and Wall Township Police Department. That investigation determined that, between January 2016 and December 2018, Schwarz embezzled over $660,000 by depositing checks from the company’s bank account into his personal bank account and concealed the theft by falsifying the company’s records.
Schwarz faces up to 10 years in a state prison if convicted of the second-degree offense. He would also face 18 months in state prison for the fourth-degree offense if convicted.
His case is assigned to Monmouth County Assistant Prosecutor Joshua D. Detzky.
