More Theft Charges for Millburn Man's Accomplice
Prosecutors think pair may have defrauded others.
A former West Orange teacher, who was previously charged along with a Millburn man for her role in selling fraudulent stock, was charged with first-degree financial facilitation and theft Tuesday in a similar case, according to Essex County Prosecutor prosecutors.
Barbara Queen, 75, of East Hanover, was previously charged with allegedly convincing a California doctor to invest $100,000 in stock of a company known as AAMPRO.
In that case, prosecutors say, Queen and co-defendant William C. Martucci, 69, of Millburn, committed theft by deception between October 2004 and December 2011.
In the current case, prosecutors allege Queen attempted to persuade a Miami resident to invest $75,000 in personal funds for fraudulent stock certificates with her.
These crimes took place between April 10, 2007 and Nov. 30, 2011, Essex County Assistant Prosecutor Robert Grady said.
In that same time period, Queen is also accused of committing financial facilitation by transferring stolen money in excess of $500,000 and issuing false stock certificates and other documents with the intention of concealing the source of the money, prosecutors allege.
“Given the magnitude of the operation, we believe other investors may have given money to Queen and Martucci. We are asking them to come forward if they have information relevant to this investigation,” Grady said. “They should contact the Financial Crimes Unit of the Essex County Prosecutor’s Office at 973-266-7720,’’ he said.
If convicted of the new charges, Queen faces 30 years in state prison.