Former executive admits stealing more than $1M from company

NEWARK -- A Belmar man who served as the chief financial officer for an orthopedic care provider pleaded guilty Wednesday to wire fraud for passing off lottery ticket purchases and other gambling as legitimate business expenses, the U.S. Attorney's Office said.

Harry Wolfmuller, 70, cashed checks from business accounts for the unnamed company, which has offices in Monmouth and Ocean counties, between 2007 and 2015. As chief financial officer Wolfmuller controlled the accounts.

All told, he spent about $1.175 million of the company's money on unapproved personal expenses that also included restaurant meals and golf outings.

Wolfmuller, who has agreed to pay restitution equal to the company's loss, faces up to 20 years in prison when he's sentenced in March.

http://www.nj.com/monmouth/index.ssf/2017/11/former_executive_admits_stealing_more_than_1m_from.html
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