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Budd Lake Man Accused of Stealing $100K from Investor

By kcora on
Budd Lake

Passaic County Prosecutor Camelia M. Valdes announces the arrest of Joseph A. Tahmoosh, 50, of Budd Lake, for Theft by Deception in the second degree.

According to officials, in December 2013, Tahmoosh obtained $100,000 from an individual and represented that he would invest and manage the money on the individual’s behalf through SNL Management LLC.

The investigation by the Passaic County Prosecutor’s Office Financial Crimes Unit revealed that SNL Management LLC was a shell company set up by Tahmoosh. Tahmoosh did not invest the money but during 2014 and 2015 converted the funds for his own personal use. Tahmoosh provided the individual with fraudulent monthly financial statements to cover up the theft and further the scheme.

Authorities charged, processed, and released Tahmoosh. He is due in Superior Court on June 1, 2018 in Paterson.

A second degree offense is punishable by five to ten years in New Jersey State Prison.

A criminal complaint is merely an accusation. Despite this accusation, the defendant is presumed innocent until proven guilty beyond a reasonable doubt.

The investigation is continuing.