By: Richard L. Smith
State officials have charged a former executive of a Monmouth County–based industrial manufacturing company in connection with the alleged theft of more than $1 million from his employer.
Jennifer Davenport announced that Jeffrey Lawrence, 34, of Far Hills, has been charged by complaint with two counts of second-degree theft by unlawful taking and two counts of second-degree misconduct by a corporate official.
According to authorities, Lawrence previously served in multiple senior leadership roles at the company, including vice president, treasurer, and corporate secretary.
Investigators allege that during his tenure, Lawrence abused his position of trust to carry out a sophisticated financial scheme.
The complaint states that Lawrence opened unauthorized bank accounts in the company’s name and, through a series of transactions in January and March 2022, diverted approximately $1 million into a second company that he controlled.
Prosecutors allege the funds were used to launch a competing business.
To conceal the alleged theft, Lawrence is accused of falsifying corporate documents at both companies, including purchase orders and invoices, to make it appear that legitimate business transactions had taken place when they had not.
The investigation was conducted by the New Jersey Division of Criminal Justice, specifically its Office of Securities Fraud and Financial Crimes Prosecutions, with assistance from the U.S. Postal Inspection Service.
The case is being prosecuted by an assistant attorney general within the office.
Officials emphasized that alleged financial crimes committed by corporate officers undermine public trust and distort fair business practices.
Prosecutors noted that no executive position exempts an individual from accountability under the law.
If convicted, Lawrence faces potential penalties of up to 10 years in state prison and fines of up to $150,000 for each second-degree offense.
The charges are allegations, and Lawrence is presumed innocent unless proven guilty in court.