2002-10-29 -- Kline, Joan Patricia -- Guilty Plea -- News Release

Lyndhurst Woman Admits Embezzling More Than $500,000 from Bloomfield Company

NEWARK - A Lyndhurst woman pleaded guilty today to bank fraud, admitting that she embezzled more than $500,000 from a security company, U.S. Attorney, Christopher J. Christie, announced.

Joan Patricia Kline, 53, admitted that from December 1996 to October 2001, while she was employed as an accounts receivable clerk with Bell's Security Sales, Inc. of Bloomfield, she took checks made payable to the company and deposited them into her personal accounts at Valley National Bank. Kline admitted that she then withdrew the amounts of the checks. The amount of the embezzlement was more than $500,000, according to the Information to which Kline pleaded guilty.

Kline entered her plea to the one-count Information before U.S. District Judge Faith S. Hochberg, who set sentencing for Jan. 29 at 11 a.m. Kline remains free on a personal recogizance bond.

The Information charges that Kline committed bank fraud by diverting and depositing checks that she received on behalf of the company into her personal bank accounts. The checks were made payable to Bell's Security Sales from customers of the business, and thereafter withdrew, wire transferred, or wrote checks on the money from these checks.

Kline faces a maximum of 30 years in prison and a fine not more than the greatest of: $1 million; twice the gross amount of any pecuniary gain that any persons derived from the offense; or twice the gross amount of any pecuniary loss sustained by any victims of the offense.

Christie credited Special Agents of the FBI, under the direction of Special Agent in Charge Louie F. Allen. The case is being prosecuted by Assistant U.S. Attorney Andrew Kogan.

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Defense Counsel: David Holman, Esq., Fedral Public Defender's Office, Newark