The New Jersey State Police have arrested Jeremy Guarino, 36, of Phillipsburg, for allegedly stealing nearly $350,000 worth of premium copper wiring from his employer over a two-year period.
During a six-month investigation, detectives from the Troop “C” Criminal Investigation Office working cooperatively with the Monmouth County Prosecutor’s Financial Crimes Unit determined that Guarino ordered premium copper wire in excess while he was the vice president of Duke Electric in Millstone Township, Monmouth County.
According to authorities, Guarino allegedly removed the surplus copper from work sites, stripped the wire into manageable portions, and then transported it to various locations in Pennsylvania where he would sell it.
Officials say after a review of cost estimates and documentation from Duke Electric, it was determined that Guarino was responsible for at least $347,903.96 worth of unauthorized purchases of premium copper wiring. Jeremy Guarino surrendered on July 21st at Hamilton Station where he was charged with theft by deception and released with a pending court date.
This case is being prosecuted by the Monmouth County Prosecutor’s Office.
Charges are mere accusations, and the accused is considered innocent until proven guilty.