Florida Man Charged with Two Counts of Theft by Deception

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At a February 11 joint hearing, Senator Joe Pennacchio called for greater oversight and accountability of tax incentive programs and the NJ EDA.

MORRIS COUNTY — Morris County Prosecutor Fredric M. Knapp and Florham Park Police Chief Joseph J. Orlando announce the arrest of David A. Seigerman, 47, a former financial representative of Morgan Stanley and Janney Montgomery Scott, on two counts of Theft by Deception (second degree), stemming from an investigation into an alleged theft of approximately $1,600,000.00 from two New York City residents.

This joint investigation was conducted by the Florham Park Police Department and the Morris County Prosecutor’s Office. The investigation determined that Seigerman accomplished this alleged theft by creating a fictitious company registered in Florida and convincing the victims to transfer money into the company’s bank account between July 2010, and April 2015. These funds were allegedly and subsequently used by the defendant for his own benefit, including the purchase of a home on Normandy Parkway in Morristown. Seigerman was barred from acting as a broker or otherwise being associated with a broker-dealer firm by the Financial Industry Regulatory Authority (FINRA) in 2016.

Prosecutor Knapp would like to thank Detective Thomas Gallagher of the Morris County Prosecutor’s Office Financial Crimes Unit and Detective Michael Neilan of the Florham Park Police Department for their hard work and dedication during this investigation.

Editors Note: A criminal complaint is merely an accusation. Despite this accusation, the defendant is presumed innocent until he or she is proven guilty beyond a reasonable doubt in a court of law.