A Bridgewater resident who has already pleaded guilty for his role in conspiring to defraud multiple companies out of more than $15 million has now been convicted of writing a $100,000 check while knowing there were not enough funds in his bank account to cover it.
Stephen Locrotondo, 53, was convicted by a Union County jury of a charge of second-degree issuing a bad check following a four-day trial before State Superior Court Judge Robert Mega in Elizabeth, according to State Attorney General Jeffrey S. Chiesa.
Chiesa said the jury acquitted Locrotondo on a charge of second-degree theft by deception.
Mega scheduled sentencing for Dec. 7. The second-degree charge of issuing a bad check carries a sentence of five to 10 years in state prison and a fine of up to $150,000.
Between Oct. 14 and Oct. 27, 2006, Locrotondo received $100,000 from a friend, which the friend believed would be returned, with interest, in a few weeks, Chiesa said. Locrotondo wrote the woman a personal check in the amount of $100,000, knowing that there were not enough funds in his bank account to cover it, according to Chiesa.
Locrotondo had also pleaded guilty in May to developing and marketing a fraudulent group life insurance policy to the city of Linden, as well as to several unions in New Jersey.
In that case, Locrotondo pleaded guilty to one count each of wire fraud and wire fraud conspiracy.
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