Far Hills Executive Charged in Alleged $1 Million Embezzlement Scheme

State prosecutors allege a Monmouth County company officer diverted corporate funds in 2022 to launch a competing business. 

A former executive at a Monmouth County–based industrial manufacturing company has been charged with stealing more than $1 million from his employer and using the money to start a competing business, New Jersey authorities announced Tuesday.

Acting Attorney General Jennifer Davenport said Jeffrey Lawrence, 34, of Far Hills, was charged by complaint with two counts of second-degree theft by unlawful taking and two counts of second-degree misconduct by a corporate official.

According to prosecutors, Lawrence allegedly carried out the scheme while serving as vice president, treasurer, and corporate secretary of the unnamed manufacturing company. The alleged misconduct occurred during a series of transactions in January and March 2022.

“The defendant’s alleged financial scheme undermines trust in high-level corporate executives and the integrity of business dealings,” Davenport said, adding that such crimes can disrupt fair competition and increase costs that ultimately affect the public.

State officials allege Lawrence opened unauthorized and alternate bank accounts in the company’s name and transferred approximately $1 million into a second company under his control. Authorities contend the funds were used to establish a competing business. To conceal the alleged theft, Lawrence is accused of fabricating corporate records at both companies, including purchase orders and invoices, to falsely justify payments between entities that had not conducted legitimate business.

Division of Criminal Justice Director Theresa L. Hilton said the allegations demonstrate that senior corporate roles do not place individuals beyond legal accountability. 

“We allege this individual misappropriated over $1 million from the company that employed him as a vice president, among other high-level roles,” said Division of Criminal Justice Director Theresa L. Hilton.

Legal Chief Pablo Quiñones of the Office of Securities Fraud and Financial Crimes Prosecutions (OSFFCP) described the case as an example of the office’s focus on complex financial crimes involving positions of trust.

The charges stem from an investigation by the Division of Criminal Justice’s OSFFCP, with assistance from the U.S. Postal Inspection Service. Assistant Attorney General A. Brendan Stewart, deputy legal chief of the OSFFCP, is prosecuting the case under Quiñones’ direction.

Second-degree offenses in New Jersey carry a potential sentence of up to 10 years in state prison and fines of up to $150,000. Authorities emphasized that the charges are allegations, and Lawrence is presumed innocent unless and until proven guilty.

The investigation remains ongoing. Anyone with information related to the case is asked to contact the Division of Criminal Justice tip line at (800) 277-2427 or email the OSFFCP at OSFFCP@njdcj.org.