Sentenced: Man Who Took Over $1 Million from Toms River Dealership

The Ocean County Prosecutor's Office said on Friday that a Beachwood man had been sentenced to seven years in jail for stealing over $1.3 million from the car dealership where he worked by setting up a phony advertising agency and paying "bills" from the phony business.

D’Amato will also be required to make restitution in the amount of $1,329,677 to his victims. According to prosecutor Bradley D. Billhimer, Martin L. D'Amato, 40, entered a guilty plea to one count of theft before Superior Court Judge Kimarie Rahill in April.

In October 2021, the Ocean County Prosecutor’s Office Economic Crime Squad was contacted by an automobile dealership located in Toms River regarding a fictitious billing scheme which appeared to have been committed by a former employee, Martin D’Amato.

The company reported that D’Amato was in charge of digital advertising for the dealership, and that he was authorized to hire freelance advertising and marketing companies to promote the dealership.

The dealership further reported that the fictitious billing scheme came to light after an internal review disclosed that the dealership’s credit card costs had exceeded budgeted amounts.

A subsequent investigation by the Ocean County Prosecutor’s Office Economic Crime Squad revealed that D’Amato used his position to misappropriate in excess of $1.3 million from the dealership through an elaborate shell company scheme.

D’Amato created multiple limited liability companies - under his personal control - to create the appearance he was retaining legitimate advertising and marketing services for the dealership. D’Amato used his position and authority to charge the dealership corporate credit card for services never rendered by these fictitious shell companies.

The investigation revealed that D’Amato took additional steps to conceal his association with the shell companies by utilizing an online payment processing service to bill the dealership credit card. The online payment processing service subsequently transferred stolen proceeds to accounts controlled by D’Amato - all to be used for his own personal benefit.

On September 19, 2022, D’Amato was arrested by Detectives from the Ocean County Prosecutor’s Office Economic Crime Squad, transported to the Ocean County Jail, and subsequently released as a consequence of New Jersey Bail Reform.