Man Admits Stealing $2.5M From Moorestown Company: Prosecutor

MOORESTOWN, NJ — A 79-year-old Hainesport man has admitted to stealing more than $2.5 million from a Moorestown company he worked for as an accounting manager for 14 years, authorities announced on Wednesday.

Charles Esposito pleaded guilty to second-degree theft by deception and third-degree failure to pay state income taxes, according to Burlington County Prosecutor Scott Coffina.

Under a plea agreement with the prosecutor’s office, he faces an aggregate sentence of seven years in state prison at sentencing on Sept. 11.

Esposito has already paid more than $190,000, but must still repay $2,328,516.44 to OldCastle BuildingEnvelope and file several years of amended state and federal income tax returns, according to authorities.

Read more here: Man Stole $2.5 Million From Moorestown Employer: Cops

Officials at OldCastle BuildingEnvelope opened an investigation after concerns were raised about a hand-written check for $18,500 that had been signed by Esposito and contained another signature that appeared to be a forgery in April 2019, according to authorities.

An investigation revealed that Esposito was able to circumvent the company's check issuance procedures and divert $2,537,655 for his personal gain, according to authorities. He admitted to conducting 243 fraudulent transactions between 2005 and April 2019, authorities said.

Oldcastle BuildingEnvelope supplies products and services used to close in a structure, provide access, security and safety, and finish out the interior. This includes fabricated glass, architectural hardware and architectural metal systems. The company has operations in 32 countries.