By: Tracie Carter
A Bergen County man who previously worked as an Internal Revenue Service agent has been arrested on federal charges accusing him of stealing more than $12 million from a New Jersey-based fuel company and laundering the proceeds.
According to an announcement by U.S. Attorney Robert Frazer, Robert M. McCloughy, 43, of Carlstadt, is charged in a three-count complaint that includes wire fraud and two counts of engaging in monetary transactions involving criminally derived funds.
He is expected to make an initial appearance in Newark federal court.
Authorities allege McCloughy, who once served as an IRS revenue agent, later held financial leadership roles as chief financial officer and controller for the company.
Between March 2017 and March 2025, prosecutors say he diverted approximately $12 million through unauthorized expense reimbursements and improper transfers from company accounts into his personal accounts.
Investigators further allege McCloughy concealed the scheme by falsifying company financial records.
After obtaining the funds, he is accused of laundering money through various transactions, including significant gambling activity on online sportsbooks and casino platforms.
If convicted, the wire fraud charge carries a potential sentence of up to 20 years in prison, while each money laundering count could result in up to 10 years behind bars, along with substantial financial penalties. 
The case remains under investigation.