Lakewood electronics recycler sentenced for insurance fraud
TRENTON - A Lakewood recycling-firm owner from Toms River, who admitted conning almost $600,000 in worker's comp coverage from his insurer by fabricating job descriptions, is sentenced to three years in prison, and his company is ordered to pay a $100,000 fine.
Albert Boufarah , 50, and Supreme Asset Management Recovery (SAMR), are individually and jointly liable for restitution to New Jersey Casualty (NJC), a subsidiary of New Jersey Manufacturer's Insurance Company (NJM), according to New Jersey Atttorney General Christopher S. Porrino's office.
Boufarah and SAMR are among six individuals and entities identified in the state probe. Boufarah and SAMR entered guilty pleas to second-degree conspiracy and insurance fraud counts nearly a year ago. A SAMR employee, Donna DeMartino, 41, of Brick, was ordered to serve two years' probation for her guilty plea to third-degree insurance fraud.
Joseph Amato II, 74, of Waretown, and Joseph Amato III, 50, of Howell, respectively the owner and agent of the Amato Agency, LLC, of Neptune, and Jennifer Phillips, 44, of Old Bridge, and Amato agent, are charged with second-degree counts of conspiracy, insurance fraud, theft by deception, and corporate misconduct. The Amatos are also charged with false swearing, a fourth-degree count.
The alleged scheme functioned between January 2011 and June 2014, investigators said. According to their findings, nearly all of SAMR's workers, estimated between 50 and 72 total, were listed as office workers engaged in clerical jobs.
Investigators contend that most were warehouse workers in higher-risk tasks that command higher coverage premiums, such as reconditioning televisions, computers and other electronic devices,
Deputy Attorney General Colin J. Keiffer represented the government at sentencing. Boufarah and SAMR were represented by Atlantic City-based attorney Louis Barbone