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NJ Man Arrested for Alleged $2.9 Million Embezzlement from Elderly Couple
Charles Gallo, a Hawthorne resident, faces wire fraud charges for embezzling millions from an elderly New Jersey couple, raising concerns about elder financial abuse.
NEWARK, N.J. – Charles Gallo, 34, of Hawthorne, New Jersey, has been charged with wire fraud in connection with the embezzlement of approximately $2.9 million from an elderly couple. This arrest, announced by U.S. Attorney Philip R. Sellinger, spotlights a severe instance of elder financial abuse, a growing concern in today's society.
Court documents and statements made in court detail that Gallo was employed as a part-time personal assistant by an elderly couple in New Jersey starting in 2018. His responsibilities included managing their monthly bills, banking activities, and assisting with technology-related tasks.
However, from March 2022 to March 2023, Gallo allegedly abused this position to siphon around $2.9 million from the couple's accounts. He reportedly executed this scheme by making large ATM withdrawals, opening a line of credit, cashing checks in his name drawn from the victims' accounts, and making unauthorized purchases with their credit cards. These purchases included computer equipment, gaming systems, collectibles, and other items from online retailers.
Gallo appeared before U.S. Magistrate Judge José R. Almonte and was released on a $100,000 unsecured bond. If convicted, the wire fraud charge could result in a maximum penalty of 20 years in prison and a fine of $250,000 or double the gross gain or loss from the offense.
The charge follows a comprehensive investigation by the U.S. Postal Inspection Service in Newark, the U.S. Attorney’s Office for the District of New Jersey, and the Hawthorne Police Department, with additional support from the Ridgewood Police Department.
Assistant U.S. Attorney Shontae D. Gray of the Economic Crimes Unit in Newark represents the government in this case. It's important to note that the charges and allegations against Gallo are currently accusations, and he remains presumed innocent until proven guilty.
This case serves as a stark reminder of the vulnerabilities faced by the elderly, particularly regarding financial exploitation. It underscores the need for vigilance in protecting seniors from such abuses.
