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Financial adviser jailed for stealing nearly $1M

4-21-14

MORRISTOWN, N.J. (AP) — A northern New Jersey financial adviser who stole nearly $1 million from two elderly clients has been sentenced to six years in prison.

Randy Schneider also will pay full restitution under the sentence imposed Monday. The 44-year-old West Orange resident pleaded guilty last December to theft by unlawful taking.

State authorities say Schneider was a broker for a Florham Park-based firm from January 2002 through October 2011, when he was fired after the firm learned he had misappropriated checks from one of the two victims.

Investigators say that between 2004 and 2011, Schneider stole more than $900,000 from an elderly professor by stealing cash, interest from bearer bond coupons and bonds belonging to him. Schneider also stole $20,000 in the same manner from that client’s younger brother, a medical doctor.