CAMDEN, NJ—The former chief financial officer of the New Jersey-based Harold M. Pitman Company was sentenced today to 56 months in prison for embezzling more than $2 million from his former employer, U.S. Attorney Paul J. Fishman announced.
John Eichner, 50, of Montvale, N.J., previously pleaded guilty to one count of wire fraud and one count of income tax evasion before U.S. District Judge Jerome B. Simandle, who also imposed the sentence today in Camden federal court.
According to documents filed in this case and statements made in court:
John Eichner is the former CFO of the Harold M. Pitman Company (the “Pitman Company”), a graphic arts and printing supply company based in Totowa, N.J. From 2003 through 2009, Eichner embezzled money from the Pitman Company by falsifying his expense reimbursement forms. Specifically, Eichner submitted numerous requests for reimbursement for personal expenses—including lodging at luxury hotels and resorts; meals at high-end restaurants; and clothing and jewelry from retailers such as Nordstrom, Coach, and Tiffany and Co. Eichner also caused wire transfers to be sent from Pitman Company accounts to pay for additional personal expenses he incurred, including a $30,000 wire to pay for cases of wine that he had purchased from Sotheby’s. In all, Eichner fraudulently obtained more than $2 million as a result of the scheme, and purposefully failed to report the illicit proceeds of his scheme to the IRS.
In addition to the prison term, Judge Simandle sentenced Eichner to three years of supervised release and ordered him to pay $2,349,162 in restitution.
Monday, August 8, 2011
Former CFO of New Jersey-Based Printing Supply Company John Eichner, Sentenced to 56 Months in Prison for Embezzlement Scheme
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