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John Hammond, 70, of Ortley Beach
According to Ocean County Prosecutors Office, John Hammond of Ortley Beach, pled guilty to Theft by Deception on September 23, 2022. At the time of his sentencing on November 18, 2022, the State will be recommending a term of seven years New Jersey State Prison. Hammond will also be required to make restitution to the victim in the amount of $230,000.00.
According to a detective bureau investigation by the Toms River Township Police Department, between May 2017 and February 2019, Hammond duped a buddy into investing $230,000 with him by promising him high returns. The victim made significant deposits into Hammond's bank account over the period of over two years, believing that Hammond would transfer the funds to an investment account that had been ostensibly opened in the victim's name.
Hammond continued his scam by fabricating false financial paperwork that claimed to be from Fidelity Investments when the victim asked the defendant to withdraw a certain amount of money from the investment account. The inquiry also showed that Hammond used the victim's money for his own personal gain rather than investing it or opening an investment account on the victim's behalf.
On September 8, 2020, Hammond surrendered himself at Toms River Township Police Headquarters, where he was processed and charged on a summons pending future appearances in Ocean County Superior Court.
