Scotch Plains Executive Admits Embezzling $48 Million

SCOTCH PLAINS, NJ — A Scotch Plains man and former executive at a New Jersey publication pleaded guilty Monday to embezzling more than $48 million from the company for his personal benefit, U.S. Attorney Craig Carpenito announced.

Nestor Charriez, 60, of Scotch Plains pleaded guilty to one count of wire fraud.

Charriez, who a longtime senior employee of the New Jersey publication company (which was not named), oversaw and managed the employee payroll, according to documents filed in this case and statements made in court.

From at least 2002 through June 2019, Charriez defrauded the company by embezzling millions of dollars through unauthorized "bonus" payments to himself, Carpenito said.

In total, Charriez stole more than $48 million from the company and spent it on personal expenses, Carpenito said.

Charriez faces a maximum potential penalty of 20 years in prison and $250,000 fine, or twice the gross gain or loss from the offense. Sentencing is scheduled for May 11.

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