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New Jersey Financial Based CFO Sentenced to Probation for Stealing Hundreds of Thousands of Dollars From Clients


Real estate

By: Richard L. Smith 

Officer of a Matawan -based financial services technology company has been sentenced to two years probation after he pleaded guilty to stealing hundreds of thousands of dollars from his employer, Monmouth County Prosecutor Raymond S. Santiago announced on Wednesday.

Officials say, Scott Lifshitz, 60, of Brick Township, was sentenced on Friday, May 12, 2023, before Monmouth County Superior Court Judge Jill Grace O’Malley. During the sentencing, Judge O’Malley noted that Lifshitz had previously paid restitution in the amount of $833,000.00 to the victim.

Lifshitz pleaded guilty to second-degree Theft of Movable Property before Judge Richard W. English on February 10, 2023, following an investigation by detectives from the Monmouth County Prosecutor’s Office. 

On that date, he made the restitution payment to a company representative who was present. 

The investigation revealed that Lifshitz oversaw the daily financial operations of the company and had access to all of the company’s bank accounts.  

In that capacity, he could write company checks payable to himself and initiate wire transfers of company funds into his accounts.

All of these transactions were unauthorized.   On the day Lifshitz was terminated from his role in the company in September of 2022, he unsuccessfully attempted to deposit two additional company checks into his personal bank accounts, but he had already been removed as an authorized signatory on the company accounts. 

The company's founders reported the theft to the Monmouth County Prosecutor’s Office shortly after Lifshitz was terminated. 

MCPO Detectives confirmed his activity through interviews with the founders and by reviewing subpoenaed bank records and other documents establishing the theft, which occurred over a period of roughly two years from September 2020 through September 2022. 

Monmouth County Assistant Prosecutor Diane Aifer handled the case.

Lifshitz was represented by Charles J. Uliano, Esq. of West Long Branch.