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SOUTH BRUNSWICK: Cops uncover alleged $135K scam

By Charles W. Kim, Managing Editor
   A financial planner from Marlboro in Monmouth County is charged with allegedly bilking $135,000 from a township senior citizen in order to live the high life.
   Jordan L. Zemlock, 49, of 2 Hemmingway Court in Marlboro, surrendered to township police Wednesday morning and was charged with second-degree theft and could face up to 10 years in prison if convicted, according to police.
   Sgt. James Ryan said that Mr. Zemlock, who owns the J Z Financial Group financial planning company, allegedly convinced a 74-year old resident to invest money through his firm to accounts in an international company, Allianz SE., based in Munich, Germany .
   The funds were invested with the American division of the company, Allianz Life in Minneapolis, Minn., according to company spokesman Sara Thurin Rollin.
   After a period of time, the unidentified victim noticed money missing from his account statement and confronted Mr. Zemlock.
   According to Sgt. Ryan, Mr. Zemlock told the senior that he had put the money in the wrong account.
   An investigation by Detective Ron Seaman revealed that the money was placed in Mr. Zemlock’s personal account instead, according to Sgt. Ryan.
   Sgt. Ryan said that further investigation discovered that the money was used for personal expenses including a $1,109 payment for Mr. Zemlock’s Mercedes Benz, another $2,000 in purchases of designer purses, a $4,000 credit card payment, a $1,083 purchase from Saks 5th Avenue.
   Mr. Zemlock also allegedly purchased tickets to see the Phoenix Suns basketball team play, according to Sgt. Ryan.
   Ms. Rollin said that Mr. Zemlock has worked as an independent agent for the company since 1995 and has not had any complaints before now.
   ”Allianz Life is aware of the allegations involving its New Jersey agent, Jordan Zemlock,” Ms. Rollin said. “(The company) is working with local law enforcement as well as conducting its own investigation into Mr. Zemlock’s business practices.”
   According to its website, the Allianz Group has about 140,000 employees and serves some 78 million customers in 70 countries throughout the world.
   In 2011, the global financial services company reports total revenues of more than 103.6 billion Euros, or about $136 billion, according to the company.
   Sgt. Ryan said Allianz is conducting a full audit of Mr. Zemlock’s business with the company and that there could be other victims because his financial planning firm had investors in several states.
   Mr. Zemlock was released after posting $50,000 bail pending his first court appearance, according to police.