An Old Bridge man has been arrested on charges that he allegedly bilked more than $55,000 from a Middletown woman, police reports said.
John Martocci, 57, of 7 Haven Drive in Cheesequake Village, Old Bridge, was arrested on May 7, by Middletown Police Detective Daniel Sullivan, and charged with theft by deception, passing bad checks, on contempt of court warrants issued by the Ocean and Old Bridge municipal courts and a New Jersey State parole warrant, Detective Lt. Steve Dollinger reported.
"Detective Sullivan located the subject in Red Bank," Dollinger said.
Martocci was arrested after a complaint against him was signed by Sullivan and Middletown Detective Jeffrey Barner alleging that “on or about” Dec. 1, 2011, he committed theft by deception by “purposely obtaining money in the amount of $55,387.20” from a Borden Road resident who he allegedly told that she would profit 25 percent on the investment, the complaint warrant said.
The alleged fact that he knew the transaction to be “a false business proposition” substantiated the theft by deception charge, a third-degree offense, according to the complaint.
Martocci then allegedly passed a check “or similar sight order” to obtain the money, allegedly knowing it would not be honored by the bank, Chase. He then allegedly proceeded to issue checks drawing on the $55,387.20 he allegedly obtained from the Middletown resident, knowing the funds were insufficient, the complaint said. The bad check passing charge is also a third-degree offense.
Martocci was held on $55,502 bail. His court date has yet to be determined, Dollinger added, saying that when the complaint warrant was issued, it was in "transfer" status.