Category: Colts Neck

Shrewsbury Man Charged With Embezzling $750K From His Former Employer, D’Angelico Guitars of America

September 8, 2021

FREEHOLD, NJ (MONMOUTH)–A Shrewsbury man has been criminally charged with embezzling more than $750,000 from the Colts Neck-based company he once worked for as an accountant, Acting Monmouth County Prosecutor Lori Linskey announced Wednesday.

Mark S. Bloom, 45, is charged with second-degree theft by unlawful taking.

A joint investigation by the Monmouth County Prosecutor’s Office and the Colts Neck Police Department led to a financial analysis of D’Angelico Guitars of America, a musical instrument manufacturer headquartered on Route 537.

The analysis revealed that sometime in early 2020, Bloom had created a new personal PayPal account and began surreptitiously transferring funds into it from the company’s American Express business account and its PayPal business account. Using the personal PayPal account, Bloom then spent much of the more than $750,000 he embezzled on online gambling.

Bloom was charged via summons on Tuesday pending the scheduling of a hearing to take place in Monmouth County Superior Court. He is being represented by Randolph H. Wolf, Esq., with an office in Red Bank. 

The case is assigned to Assistant Prosecutor Kristen Anastos of the Prosecutor’s Office’s Financial Crimes and Public Corruption Unit. 

Despite the aforementioned pending charges, every defendant is presumed innocent, unless and until found guilty beyond a reasonable doubt, following a trial at which the defendant has all of the trial rights guaranteed by the U.S. Constitution and State law.


Colts Neck Man Charged In Bankruptcy Fraud; Had $2.9 Million In Hidden Account

June 3, 2021

COLTS NECK, NJ (MONMOUTH)–A Monmouth County, New Jersey, man made his initial court appearance today for allegedly filing a fraudulent bankruptcy petition claiming he had limited assets and hundreds of millions of dollars in liabilities, when, in fact, he had $2.9 million in a hidden bank account, Acting U.S. Attorney Rachael Honig announced today.

Elia Zois, 56, of Colts Neck, New Jersey, is charged by complaint with one count of concealment in bankruptcy. He is scheduled to appear this afternoon by videoconference before U.S. Magistrate Judge Leda Dunn Wettre.

According to the complaint:

Zois was one of five partners in “Business-2,” a New Jersey-based health care organization that maintained approximately 50 senior living facilities throughout New Jersey, Michigan, and Wisconsin. On Feb. 6, 2019, he and his spouse filed for Chapter 7 bankruptcy protection, alleging that between 2014 and 2018 he had only $9,000 in assets and $201 million in liabilities, based upon his partnership in Business-2. A forensic accounting report concluded that during that period Zois received $2.9 million in deposits into the bank account of “Business-1” – of which Zois was the sole owner – including approximately $200,000 in undeclared income after he filed for bankruptcy. The hidden account was intended to conceal a portion of his income to circumvent existing IRS liens on his known assets.

The count of concealment in a bankruptcy carries a maximum penalty of five years in prison and a $250,000 fine.

Acting U.S. Attorney Honig credited the investigators of the U.S. Department of Labor, Office of Labor Management Standards, under the direction of Adriana Vamvakas, Regional Director; and special agents of the Department of Labor (OIG), New York Region, under the direction of Acting Special Agent in Charge Nikitas Splagounias, with the investigation leading to the charges. She also thanked special agents of the FBI, Milwaukee field office, for their assistance.

The government is represented by Senior Litigation Counsel V. Grady O’Malley and Special Assistant U.S. Attorney Kendall Randolph of the U.S. Attorney’s Office’s Organized Crime/Gangs Unit.

The charges and allegations contained in the complaint are merely accusations, and the defendant is presumed innocent unless and until proven guilty.

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Defense counsel: Timothy M. Donohue Esq., West Orange, New Jersey