$1.3M Stolen From Toms River Car Dealer Via Fake Ad Agency: Prosecutor

TOMS RIVER, NJ — A Beachwood man used a fake ad agency as part of an elaborate scheme to steal more than $1.3 million from an auto dealership in Toms River where he worked, according to the Ocean County Prosecutor's Office.

Martin L. D'Amato, 37, was arrested Monday and charged with money laundering and theft, Prosecutor Bradley D. Billhimer said.

D'Amato had been in charge of digital advertising for the dealership, and in that role had been authorized to hire freelance advertising and marketing companies to promote the dealership, Billhimer said. The dealership was not identified.

While he was in that role, he created multiple limited liability companies — all of which he controlled — to create the appearance he was retaining legitimate advertising and marketing services for the dealership, the prosecutor's office said.

D’Amato used his position and authority to charge the dealership's corporate credit card for services never rendered by these fictitious shell companies, authorities allege.

Authorities allege D’Amato then used an online payment processing service to bill the dealership and to conceal his association with the shell companies, Billhimer said. The online payment processing service then transferred the stolen proceeds to accounts controlled by D’Amato where he could then spend the money, the prosecutor said.

None of the services that were billed to the corporate credit card were performed, Billhimer said.

The thefts came to light when an internal review showed the corporate credit card costs had exceeded what had been budgeted, and the dealership then contacted the prosecutor's office in October 2021, Billhimer said.

D’Amato was arrested by detectives from the prosecutor’s Economic Crime Squad and is being held at the Ocean County Jail in Toms River pending a detention hearing.