BREAKING: Former campaign treasurer for LoBiondo pleads guilty to embezzling more than $450,000

The former campaign treasurer for Representative Frank LoBiondo of New Jersey pleaded guilty today to embezzling more than $450,000.

Andrew J. McCrosson Jr., 59, of Egg Harbor Township, pleaded to one count of wire fraud and one count of embezzling and converting funds contributed to a federal candidate.

The theft of campaign funds from LoBiondo’s account was first reported by PolitickerNJ in November.

McCrosson served as LoBiondo’s treasurer from 1995 until August of 2010, when he left to become business administrator in the city of Trenton.

In November, LoBiondo’s camp reported to federal election officials that money was missing from the campaign.  The Congressman was mum at the time about what happened to the money, but sources told PolitickerNJ that McCrosson was responsible.  The campaign was forced to restate several filings with the Federal Election Commission to account for the missing money.

McCrosson admitted  that he wrote several checks totaling approximately $458,000 from the LoBiondo for Congress bank accounts to himself without authorization and for no legitimate campaign purpose. According to the court document, McCrosson used the embezzled funds to repay a federal income tax lien, pay his mortgage payments, to pay college tuition payments for his children and for other living expenses.

McCrosson then concealed the payments by filing false reports overstating the amount of cash in the campaign’s account.  According to the court document, McCrosson filed at least six false reports dating back to 2005.

In addition to his stint as Business Administrator in Trenton, which he left with little explanation after just three months in the post, McCrosson is a former business administrator in Ventnor City.  He also served as mayor of Upper Township.

Sentencing is scheduled for June 16.  McCrosson faces up to 25 years in prison and a fine of up to twice the profits from his crimes.

He was released on $100,000 bail.

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