A former executive at a manufacturing company in Monmouth County, New Jersey, has been charged with allegedly embezzling over $1 million from his employer to start a competing business. The charges were announced by Acting Attorney General Jennifer Davenport.
Jeffrey Lawrence, 34, of Far Hills, New Jersey, faces two counts each of theft by unlawful taking and misconduct by a corporate official, both second-degree offenses. According to authorities, Lawrence served as vice president, treasurer, and corporate secretary at the unnamed industrial manufacturing firm.
“The defendant’s alleged financial scheme undermines trust in high-level corporate executives and the integrity of business dealings,” said Acting Attorney General Davenport. “These crimes erode the ability of businesses to operate on a level playing field and can lead to increased costs, which can affect us all.”
Division of Criminal Justice Director Theresa L. Hilton stated: “We allege this individual misappropriated over $1 million from the company that employed him as a vice president, among other high-level roles. No title or position is above the law. When that is alleged to have been abused, we will pursue accountability.”
Legal Chief Pablo Quiñones of the Office of Securities Fraud and Financial Crimes Prosecutions (OSFFCP) added: “The defendant misused a position of trust to allegedly commit financial crimes. This office remains steadfast in its commitment to investigate and prosecute these types of sophisticated, financial crimes.”
Investigators allege that Lawrence opened unauthorized bank accounts for the company and used them to transfer approximately $1 million during January and March 2022 to another business he controlled. Authorities say he then fabricated corporate records—including purchase orders and invoices—to make it appear as if legitimate transactions had occurred between the two companies.
The investigation was conducted by detectives from the Division of Criminal Justice assigned to OSFFCP with assistance from federal agents with the U.S. Postal Inspection Service. Assistant Attorney General A. Brendan Stewart is prosecuting the case under Legal Chief Quiñones’s direction.
If convicted on second-degree charges, Lawrence could face up to 10 years in state prison and fines up to $150,000 for each count.
Officials emphasized that all charges are accusations at this stage; Lawrence is presumed innocent unless proven guilty in court.
The investigation remains ongoing. Authorities encourage anyone with information relevant to this case to contact either the Division of Criminal Justice tip line or reach out via email.
