Mr. Nasha
Richard and Elisa Rosen, co-owners of Frieman Management in Princeton, NJ are at it again. As reported last year, the company, a manager of multifamily properties in New Year, had not funded most tenants’s security deposits. In fact, the company’s accountant has documented how the deposits were simply deposited in Frieman Management’s account – no proper account set up for the tenant and no notice provided, as is required by state law. Richard and Elisa have historically taken money from the properties’ operating accounts to repay the deposits, a blatant theft, since the properties are 60% owned by other partners. After months of litigation and pressure from the 60% owners of the property, who only recently realized what was going on with security deposits, Frieman was forced to fund these accounts properly.
The latest in the sorry saga of these small time crooks is that Richard and Elisa have overcharged a former employee, Richard’s sister Julie, for health care premiums (NJ continuation program, like COBRA but for smaller employers) and pocketed the difference. Upon being caught last summer, Richard and Elisa still refuse to return the money they stole yet do not deny that they owe the employer the money.