FLEMINGTON, N.J. — A 38-year-old man from Asbury has been charged with theft by deception and tax-related offenses after authorities allege he defrauded a 91-year-old Clarksburg man of $400,000 through a false loan scheme.
Christopher Sterlacci was arrested following an investigation by the Hunterdon County Prosecutor’s Office, which alleges that Sterlacci promised vehicles and properties as collateral in a loan agreement with the elderly victim in May 2021. Authorities say the assets pledged by Sterlacci did not belong to him, and he defaulted on the loan.
The suspected fraud was reported to police in March 2023, and charges were officially filed on October 23. Sterlacci is facing one count of second-degree theft by deception, as well as two third-degree charges for failing to file a New Jersey tax return and failing to pay state taxes, fees, penalties, or interest.
If convicted, Sterlacci could face up to 10 years in prison and $150,000 in fines for the theft charge. The tax-related offenses each carry potential penalties of three to five years in prison and fines of up to $15,000.
Prosecutors stress that the charges remain accusations and that Sterlacci is presumed innocent unless proven guilty in court.