Morris County Prosecutor Fredric M. Knapp announces that the Honorable Stuart A. Minkowitz, P.J.S.C. sentenced Bernard W. Ozarowski, 60, of Princeton, to serve five years of Special Probation pursuant to the terms of the Morris County Drug Court for second degree Misapplication of Entrusted Property in violation of N.J.S.A. 2C:21-15. He was further ordered to pay restitution to four victims in the amount of $509,998.44.
On March 19, Ozarowski pled guilty to second degree Misapplication of Entrusted Property, in connection with his role as executor of the estate of R.H. who was Ozarowski’s brother-in-law. R.H. was a former resident of Madison who died in December of 2011. At the time of his death, his life insurance policy, annuity funds, IRA accounts, certificates of deposit and other bank accounts contained significant assets. However, between December 8, 2011 and September 5, 2012, Ozarowski illegally transferred assets of the estate to his own company, Loyola Management, a dealer and distributor of print services as well as a document management company.
If the defendant violates the terms of the Special Probation he could be ordered to serve up to ten years in the New Jersey State Prison.
The State was represented during the sentencing by Morris County Supervising Assistant Prosecutor Francine S. Ehrenberg.
Prosecutor Knapp would like to thank the Financial Crimes Unit of the Morris County Prosecutor’s Office and Assistant Prosecutor Julian Hill for their efforts resulting in this sentence.