Trenton, NJ – Attorney General Matthew J. Platkin and the Division of Criminal Justice announced on Wednesday that John Dunlea, the former Chief Financial Officer of McElroy, Deutsch, Mulvaney & Carpenter, pleaded guilty to stealing over $1.5 million from the law firm and avoiding state income taxes.
The charges stemmed from an investigation by DCJ’s Office of Securities Fraud and Financial Crimes Prosecutions and the New Jersey Division of Taxation-Office of Criminal Investigations.
Dunlea, aged 61, from Westfield, New Jersey, admitted on Monday to taking $1,538,221 from the firm through unauthorized payments to himself.
Between 2017 and 2022, he unlawfully paid himself $1,182,965 and convinced the firm to cover his personal expenses totaling about $355,256. His guilty plea also included evading $22,568 in state income taxes from 2018 to 2022 due to the misappropriated funds.
The plea agreement specifies a State recommendation of a five-year prison term for Dunlea. Furthermore, he will be obligated to reimburse the McElroy Law Firm and the State of New Jersey, Division of Taxation. The sentencing date has been set for June 14. Deputy Attorney General Michael Burke is prosecuting the case under the guidance of DCJ’s Office of Securities Fraud and Financial Crimes Prosecutions.