Toms River man gets 5 years after stealing $175K and using most of it for father's debt
TRENTON-- A man and his 84-year-old father were sentenced today after admitting in June they stole $175,000 from an elderly widow in Bergen County, acting Attorney General John Hoffman and the state Office of the Insurance Fraud Prosecutor said in a joint statement.
Andrew M. Lesnak, 54, of Toms River, became a financial advisor to the widow after her husband died in 2007. The 69-year-old woman had no family in the area, authorities said.
Andrew M. Lesnak (Attorney General's Office) In 2010, Lesnak convinced the victim to cede control of an annuity to him, then used most of the funds to pay off an equity line of credit against his the Pine Brook home of his father, Andrew G. Lesnak. The remaining cash, about $6,800, ended up in one of the younger Lesnak's business accounts.
The scheme was uncovered two years later, when the victim entered an assisted-living facility and an attorney discovered that a significant amount of the victim's assets were unaccounted for.
"These defendants exploited a widow who needed sound investment advice and support in her retirement years, and deplorably used her life savings for their own enrichment," Hoffman said in a statement. "Many senior citizens have family and friends to guide them through managing their retirement, but unfortunately many fall prey to conscienceless opportunists."
The elder Lesnak, a Hampton Bays, N.Y., resident, was sentenced to two years' probation. His son was sentenced to five years in prison.
Andrew G. Lesnak Both men paid all the money back when they entered their guilty pleas.
Paul Milo may be reached at pmilo@njadvancemedia.com. Follow him on Twitter @PaulMilo2. FindNJ.com on Facebook