TOMS RIVER – A man faces prison time for ripping off his friend in the amount of $230,000.
John Hammond, 70, of Ortley Beach, pled guilty to Theft by Deception, Ocean County Prosecutor Bradley D. Billhimer announced. The State will recommend a term of seven years in prison and he will have to pay back the money.
Between May of 2017 and February of 2019, Hammond told a friend to invest the money with him, promising large returns. However, he never invested the money, but was just spending it himself. When the victim asked the defendant for a withdraw, Hammond created fraudulent financial documents that looked like they were from Fidelity Investments.
Prosecutor Billhimer acknowledged the efforts of Assistant Prosecutor Taylor Toscano who handled the case on behalf of the State, as well as the Toms River Township Police Department Detective Bureau for their efforts in connection with this investigation.