Union County Woman Admits Embezzling Hundreds Of Thousands Of Dollars From Synagogue

NEWARK, N.J. – A Union County woman admitted her role in embezzling more than approximately $350,000 from a Union County synagogue, U.S. Attorney John Giordano announced.

Stacy Margaritondo, 52, of Scotch Plains, New Jersey pleaded guilty before U.S. District Judge Susan D. Wigenton in Newark federal court to an Information charging her with wire fraud.

According to documents filed in this case and statements made in court:

In 2010, Margaritondo began working at the synagogue located in Union County, New Jersey and was promoted to office manager and bookkeeper in July 2020.  From December 2019 through May 2023, Margaritondo abused this position of trust by engaging in a fraudulent scheme to misappropriate approximately $350,000 from the synagogue’s accounts. As part of the scheme, Margaritondo routinely issued unauthorized checks made payable to herself drawn on the synagogue’s bank accounts; obtained unauthorized additional funds to conceal the embezzlement scheme by fraudulently using the synagogue’s name, bank statements, and balance sheet to obtain short-term financing from at least three cash advance companies; and intentionally kept inaccurate accounting records and altered bank statements that she provided to the board of directors to conceal her scheme.

The wire fraud charge carries a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense. Sentencing is scheduled for July 22, 2025 at 12 p.m.

U.S. Attorney Giordano credited special agents of the FBI, under the direction of Acting Special Agent in Charge Terence G. Reilly in Newark, with the investigation leading to the guilty plea.  He also thanked the Scotch Plains Police Department, under the direction of Chief Jeffrey J. Briel, for their assistance.

The government is represented by Assistant U.S. Attorney Shontae D. Gray of the Economic Crimes Unit in Newark.

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Defense counsel:  Marc A. Sposato, Esq. and Steven F. Wukovits, Esq., Cranford, New Jersey