TRENTON – A lawyer region of the coast and a developer have admitted to roles in a scheme to divert funds from investors in commercial real estate projects in New Jersey.
Federal prosecutors say that conspiring with an another developer to divert funds from investors who were to be used to develop projects to Holmdel and Hazlet Neptune of almost $ 1 million.
Attorney Erik Mueller's Howell pleaded guilty Friday to conspiracy to commit wire fraud in Federal Court in Trenton. Developer David Toms River Moulakis pleaded guilty under the same Thursday.
The third conspirator, developer Allen Weiss of Marlboro, pleaded guilty in April.
The count to which they pleaded carries a potential maximum sentence of 20 years in prison. Their sentencings are planned for September and October.
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