Former McElroy Deutsch CFO pleads guilty to embezzling more than $1.5M from firm
The former chief financial officer of McElroy, Deutsch, Mulvaney & Carpenter has pleaded guilty to embezzling more than $1.5 million from the law firm over a six-year period and failing to pay more than $22,000 in state income taxes. (Image from Shutterstock)
The former chief financial officer of McElroy, Deutsch, Mulvaney & Carpenter has pleaded guilty to embezzling more than $1.5 million from the law firm over a six-year period and failing to pay more than $22,000 in state income taxes.
John Dunlea, 61, of Westfield, New Jersey, pleaded guilty Wednesday to two counts of theft by deception and five counts of failure to pay taxes, according to a May 8 press release by Democratic New Jersey Attorney General Matthew J. Platkin.
Dunlea was criminally charged in New Jersey in February, about seven months after McElroy Deutsch filed a civil lawsuit against Dunlea claiming that he stole more than $3.2 million from the firm over a period of more than 10 years.
The suit alleged that Dunlea paid himself unauthorized bonuses and used his business credit card to treat himself and his wife to lavish vacations “at the finest, most opulent hotels in the world.”
Under the plea agreement, the state will recommend a five-year prison sentence and a requirement that Dunlea pay restitution to the firm and the state.
Reuters and Law360 have stories on the guilty plea. Law360 published a statement by Ricardo Solano Jr., Dunlea’s lawyer.
“Obviously, this is a difficult day for Mr. Dunlea, a highly successful professional and caring family man, who made a terrible decision that he regrets and for which he will pay for the rest of his life. Mr. Dunlea has always been willing to accept responsibility for his actions when he is wrong, and today is no different,” Solano said in the statement. “His goal is to serve his punishment, move past this and hopefully rebuild his personal and professional life.”
