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Scotch Plains Woman Charged with Embezzling $350K from Synagogue
Newark, N.J. – In a shocking case of financial deceit, Stacy Margaritondo, 51, of Scotch Plains, New Jersey, has been charged with one count of wire fraud in connection with her role in embezzling over $350,000 from a Union County synagogue.
According to court documents, Margaritondo, who was the synagogue’s office manager and bookkeeper, abused her position of trust to engage in a fraudulent scheme to misappropriate funds from the synagogue’s accounts between December 2019 and May 2023. The scheme involved issuing unauthorized checks made payable to herself, obtaining additional funds through short-term financing, and altering bank statements to conceal the embezzlement.
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. Margaritondo appeared in federal court and was released on $100,000 unsecured bond.
U.S. Attorney Philip R. Sellinger credited special agents of the FBI with the investigation leading to the charge. He also thanked the Scotch Plains Police Department for their assistance. Assistant U.S. Attorney Shontae D. Gray will represent the government in this case.
The charges and allegations contained in the complaint are merely accusations, and Margaritondo is presumed innocent unless and until proven guilty.
The embezzlement scheme was uncovered after a thorough investigation by the FBI and the Scotch Plains Police Department. The case serves as a reminder of the importance of transparency and accountability in financial transactions, particularly in institutions of trust such as synagogues.
The synagogue’s board of directors and members are likely feeling a mix of emotions, from shock to outrage, as they come to terms with the magnitude of the embezzlement. The incident highlights the need for regular audits and financial oversight to prevent such incidents in the future.
Key Facts
- State: New Jersey
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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