Tuesday, November 15, 2011

New Jersey Man Pleads Guilty To Embezzling $560K From Union

James J. Kearney Jr., 44, of Bayonne, New Jersey, has pleaded guilty to charges he embezzle more than $560,000 from the International Association Of Bridge, Structural, Ornamental and Reinforcing Ironworkers (Local 45 ), where he had served as secretary-treasurer. According to prosecutors, over a period of nearly 2 years, from January 2009 through September 2010, Kearney withdrew about $471,000 in cash from union accounts and kept $90,365 in receipts from membership dues for his own benefit.  In all, prosecutors alleged that Kearney misappropriated $561,365 from the union.  He pleaded guilty to an Information charging him with one count of embezzlement and faces up to 20 years in prison, plus restitution.  Kearney is scheduled to be sentenced on February 21, 2012.

Read the story here and here.

Read the DOJ announcement here.

Update (5/10/12): Kearney has been sentenced to 2 1/2 years in prison. 

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