Stacy Margaritondo, Wire Fraud, New Jersey 2023

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Union County Woman Charged with Embezzling Hundreds of Thousands of Dollars from Synagogue

NEWARK, N.J. – A Union County woman is facing serious charges after allegedly embezzling more than $350,000 from a local synagogue.

Stacy Margaritondo, 51, of Scotch Plains, New Jersey, is charged by complaint with one count of wire fraud. She appeared today before U.S. Magistrate Judge André M. Espinosa in Newark federal court and was released on $100,000 unsecured bond.

According to documents filed in this case and statements made in court, Margaritondo began working at the synagogue in 2010 and was promoted to office manager and bookkeeper in July 2020. Her duties included accounting/bookkeeping, payroll, preparing checks for accounts payable, and reporting to the synagogue’s board of directors regarding the synagogue’s financial condition.

However, from December 2019 through May 2023, Margaritondo abused this position of trust by engaging in a fraudulent scheme to misappropriate approximately $350,000 from the synagogue’s accounts. She routinely issued unauthorized checks made payable to herself drawn on the synagogue’s bank accounts and obtained unauthorized additional funds to conceal the embezzlement scheme by fraudulently using the synagogue’s name, bank statements, and balance sheet to obtain short-term financing from cash advance companies.

Margaritondo also intentionally kept inaccurate accounting records and altered bank statements that she provided to the board of directors to conceal her scheme. The wire fraud charge carries a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense, whichever is greatest.

U.S. Attorney Philip R. Sellinger credited special agents of the FBI, under the direction of Special Agent in Charge James E. Dennehy in Newark, with the investigation leading to the charge. He also thanked the Scotch Plains Police Department, under the direction of Chief Jeffrey J. Briel.

The government is represented by Assistant U.S. Attorney Shontae D. Gray of the Economic Crimes Unit in Newark. The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.