Crime & Safety
Ex-Treasurer Stole $450K From Freehold Soccer League: Prosecutor
Breaking: Anthony Gallo, CEO of Beacon Financial Services, used funds to pay personal bills, wrote checks to his company, prosecutor says.
FREEHOLD, NJ – The former treasurer of the Freehold Soccer League has been charged with stealing more than $450,000 from the volunteer organization between 2012 and 2016, Monmouth County Prosecutor Christopher J. Gramiccioni said Wednesday.
Anthony Gallo, 57, of Freehold Township, is charged with one count of second-degree theft, said Charles Webster, spokesman for the prosecutor's office. If convicted, he faces up to 10 years in prison.
Gallo was charged Wednesday following an investigation that began in March 2016, Webster said. The investigation began after the prosecutor's office’s Financial Crimes Unit was contacted by the president of the league after learning from a vendor that bills for uniforms were not paid and later discovered funds were missing from the league bank accounts, he said.
Find out what's happening in Freeholdfor free with the latest updates from Patch.
Gallo is a founding member of Beacon Financial Services LLC, and serves as its chairman and CEO and is a licensed certified public accountant, according to his biography on the company's website. "Expressed broadly, Anthony holds primary responsibility for the continued growth of Beacon and its affiliates in a manner that preserves the commitment to client service and maintains its rich culture," the website says.
The investigation determined Gallo stole more than $450,000 from the league while serving as the volunteer treasurer for the organization, Webster said.
Find out what's happening in Freeholdfor free with the latest updates from Patch.
As treasurer, Gallo had access to the league’s operating account and wrote checks to himself, his company Beacon Financial Services, and cash totaling over $300,000. He also made numerous ATM withdrawals amounting to over $120,000 from the league’s account. Gallo used league funds to pay personal expenses totaling over $25,000, including $12,000 for his Verizon Wireless bills, thousands of dollars at Honda of Freehold, other household bills, at restaurants and shopping.
Gallo was released pending a future court date.
The case is assigned to Monmouth County Assistant Prosecutor Lawrence Nelsen.
Image via Shutterstock
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
