MONROE: Man sentenced for fraud

By Charles W. Kim, Managing Editor
   MONROE — A man from Monroe will spend 21 months in prison for defrauding a Township business he worked at, according to officials.
   Joseph R. Algoo, 39, of Monroe was sentenced to 21 months in prison for stealing almost $175,000 from the Dymex Corporation while managing operations in New Jersey, according to a May 7 press release from the U.S. Attorney’s Office.
   According to the release, Mr. Algoo worked for the Dallas, Texas based company in its New Jersey offices as a branch manager between 1999-2009.
   During that time, Mr. Algoo, who previously plead guilty to the charges, submitted and processed delivery orders for independent drivers that made deliveries for the firm, which handles same-day and overnight delivery services.
   Mr. Algoo accessed the internal computer systems and changed the delivery orders, increasing the costs to Dynamex.
   He then diverted a portion of that money to his personal bank accounts, making “significant” deposits totaling $174,285 in 2007-08, according to the release.
   He also admitted to signing false tax returns for those years and not declaring the money to the Internal Revenue Service.In addition to the prison time, Mr. Algoo also must payback the money to Dynamex as well as $100,000 to the IRS, according to the release.
   Special agents from the FBI and the IRS investigated the case, which was prosecuted by Assistant U. S. Attorney Aaron Mendelsohn.
   This case was brought in coordination with President Barack Obama’s Financial Fraud Enforcement Task Force, which is working to aggressively investigate financial crimes, according to the release.