A New Jersey grand jury has indicted a hotel manager on charges of theft, money laundering, identity theft and forgery in a scheme that raked in more than $1 million.
Vikas Mehta faces a protracted prison term after the Office of Insurance Fraud Protection charged him following a complaint filed by his boss at the Fairbridge Inn upon discovery that his $600,000 annuity with Prudential had been cashed out.
Online publication NJ.com reported that Mehta used his boss’s personal information to have the money in the account sent in the form of a check through a courier, which he intercepted. He also cashed out other insurance accounts belonging to his boss.
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He then used the proceeds from his activities to flip property in Englewood Cliffs, the report said.
“Through his alleged actions, this defendant not only defrauded insurance companies, he cruelly victimized the man who paid his wages,” acting Insurance Fraud prosecutor Christopher Iu told the publication.
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