Broker Stole $472K From Client: Morris County Prosecutor

PEQUANNOCK, NJ — A former Merrill Lynch broker pleaded guilty to swindling $472,000 out of a client, Morris County Prosecutor Fredric M. Knapp said.

Keith Enlow of Pequannock, pleaded guilty to one count of second-degree theft by deception. According to Knap, Enlow convinced the victim to put her money into an online brokerage account he said he would manage. Once the money was in the account, Enlow withdraw about $9,400 each month for personal expenses.

Enlow stole a total of $472,000 over 18 months, Knapp said.

In exchange for pleading guilty, Enlow has agreed to pay restitution. He will be sentenced on Sept. 21, where he faces four years in prison.

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