Wayne Man Admits To Embezzling $13.8M From Employer

WAYNE, NJ — A township man Wednesday admitted to embezzling more than $13 million from his employer to support his gambling expenses and lavish lifestyle, authorities announced.

George Dfouni, 47, pleaded guilty before U.S. District Judge Katharine S. Hayden to wire fraud and tax evasion, U.S. Attorney Craig Carpenito announced. He was released on $150,000 unsecured bond.

Dfouni was the chief operating office for the company that owns and operates hotels in New York and New Jersey from 1996 to 2015.

From 2007 to September 2015, Dfouni negotiated lease contracts between his company and two others, which totaled millions of dollars, Carpenito said.

Dfouni arranged for the payments to be sent directly to him. These payments included signing bonuses for Dfouni. He was expected to keep the bonuses and pay the remaining money to his company, Carpenito said.

Instead, Dfouni skimmed part of the payments to his company to "support his lavish lifestyle and gambling expenses," Carpenito said.

Dfouni embezzled about $13.8 million from his employer, Carpenito said.

Dfouni also failed to report more than $27.7 million in income to the IRS from 2007 to 2014, which included the funds he embezzled, Carpenito said.

The wire fraud charge carries a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense. The tax evasion charge has a maximum penalty of five years and a $250,000 fine.

Dfouni is scheduled to be sentenced April 30.

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