NJ Woman Faces Federal Charges for $350k Synagogue Embezzlement

Union County Woman Charged with Embezzling Hundreds of Thousands of Dollars from Synagogue.Photo byMorristown Minute

Federal Charges Filed Following Extensive FBI Investigation

Newark, NJ — Stacy Margaritondo, a 51-year-old resident of Scotch Plains, New Jersey, faces serious allegations of wire fraud after being charged with embezzling more than $350,000 from a Union County synagogue. U.S. Attorney Philip R. Sellinger announced the charges following Margaritondo's appearance in Newark federal court, where she was released on a $100,000 unsecured bond.

Margaritondo, who began her tenure at the synagogue in 2010, ascended to the roles of office manager and bookkeeper by July 2020. Her responsibilities included handling the synagogue’s finances, payroll, and reporting financial conditions to the board of directors. It is alleged that from December 2019 through May 2023, she exploited her position by issuing unauthorized checks to herself, engaging with cash advance companies under false pretenses, and manipulating financial records to hide her activities.

The charges brought against her highlight a breach of trust and potential financial vulnerabilities within non-profit organizations. The wire fraud charge alone carries a maximum penalty of 20 years in prison and a fine of $250,000 or twice the gross gain or loss from the offense, which could significantly exceed the initial amount embezzled.

The FBI, under the direction of Special Agent in Charge James E. Dennehy, and the Scotch Plains Police Department, led by Chief Jeffrey J. Briel, played pivotal roles in uncovering the extent of the alleged embezzlement. Assistant U.S. Attorney Shontae D. Gray of the Economic Crimes Unit in Newark represents the government in this case.

As the legal process unfolds, Margaritondo remains presumed innocent until proven guilty. This case serves as a stark reminder of the importance of rigorous financial oversight and controls in institutions of all sizes and types.

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