Matawan Man Accused of Defrauding Victim of $1M

A Matawan man was indicted by a New Jersey grand jury Monday on several theft by deception charges for allegedly using a false identity to acquire money and property in multiple municipalities. 

According to a press release issued by the Monmouth County Prosecutor's Office in January, James Demitro, 42, posed as the nephew of an elderly Red Bank woman suffering from dementia. Authorities began to investigate Demitro after suspicions arose following several financial and estate planning transactions conducted between March and August 2011, according to the release.

Investigators say Demitro assumed the false identity in April 2011 in order to obtain property on Harrison Avenue in Red Bank, valued at $75,000 or higher. He also allegedly used the false identity to withdrawal $280,000 from the victim's personal account in May 2011 in Red Bank, cash a $153,000 cashier's check from Red Bank and/or Fair Haven in June 2011, cash a $321,000 cashier's check in Red Bank and/or Fair Haven in July 2011 and cash a $28,000 cashier's check in Hazlet in March 2011. 

Demitro is also charged with taking two checks issued by Prudential Insurance Company to which he was not entitled in Hazlet. The first was allegedly cashed in April of 2011 in the amount of $169,107.22, while the second, for $32,965, was allegedly cashed in August of 2011.

According to court documents, Demitro was indicted on one count of second degree theft of identity, six counts of second degree theft by deception and one count of third degree theft by deception by a New Jersey grand jury.

An indictment does not indicate a conviction.