Man Skims $200,000 from Construction Company in Monmouth County

FREEHOLD –  A man who worked for a construction company in Monmouth County was able to steal $200,000 from his employer by taking paychecks made out to former employees and collecting their paychecks.

A Union County man is charged with theft for retaining ghost employees on the payroll after they departed a Colts Neck-based construction company and keeping nearly $200,000 for himself, announced Monmouth County Prosecutor Christopher J. Gramiccioni.

Peter McGlynn, 47, of Stanton Avenue in Elizabeth, was charged Friday with one count of second degree Theft by Unlawful Taking after a joint investigation by the Monmouth County Prosecutor’s Office and Colts Neck Police Department determined he absconded with $195,082.83 in fraudulent payroll checks for employees who no longer were employed by the construction company.

The investigation revealed McGlynn, a supervisor at the construction company, kept four former employees name on the payroll, including two employees fired by McGlynn, and continued to submit time sheets for them so that he could collect their checks.  A forensic review of McGlynn’s personal bank accounts revealed he deposited a total of $173,163.19 in cash of unknown origin into the bank accounts.

If convicted of Theft, McGlynn faces a sentence of five to ten years in a New Jersey state prison.

This case is being prosecuted by Monmouth County Assistant Prosecutor Lawrence Nelson.

McGlynn is represented by Andrew Olesnycky, Esq. of Westfield.