HomeNewsMoorestown NewsEsposito pleads guilty to stealing more than $2.5 million from Moorestown business

Esposito pleads guilty to stealing more than $2.5 million from Moorestown business

The following is a message from the Burlington County Prosecutor’s Office:

Burlington County Prosecutor Scott Coffina announced that a 79-year-old Hainesport man pled guilty today in Superior Court to stealing more than $2.5 million during a 14-year period from the Moorestown company where he was employed as an accounting manager.

Under an agreement with the Prosecutor’s Office, Charles Esposito pled guilty to theft by deception (second degree) and failure to pay state income taxes (third degree) in exchange for an aggregate seven-year sentence in New Jersey state prison. The Hon. Christopher J. Garrenger, J.S.C., scheduled sentencing for Sept.11.

Esposito has already repaid more than $190,000 of the stolen funds but still must make restitution in the amount of $2,328,516.44. He must also file several years of amended state and federal income tax returns.

Officials at the company, Oldcastle BuildingEnvelope, began to investigate in April 2019 after concerns were raised about a hand-written check for $18,500 that had been signed by the defendant and contained another signature that appeared to have been forged.

The ensuing investigation revealed that Esposito was able to circumvent Oldcastle BuildingEnvelope’s accounting systems, namely the check issuance and invoice procedures, to divert more than $2.5 million for his personal gain. He is accused of conducting 243 fraudulent transactions between 2005 and April 2019.

Esposito is being prosecuted by Assistant Prosecutor Andrew R. McDonnell, supervisor of the BCPO Financial Crimes Unit. The investigation was conducted by the Moorestown Township Police Department and the BCPO Financial Crimes Unit, with assistance from the New Jersey Division of Taxation. The lead investigator was Moorestown Township Police Detective Donald Brauckmann.

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