An executor from Ramsey pocketed $400,000 from an estate, then gave the beneficiaries bogus investment fund and tax documents to try and cover her trail, authorities said.
A July 18 first appearance was scheduled for Kunal Kapadia, 45, in Central Judicial Processing Court in Hackensack, Acting Bergen County Prosecutor Dennis Calo said Tuesday.
Calo’s Financial Crimes Unit opened an investigation last July “after receiving a complaint from the named beneficiaries of an estate regarding suspected fraud committed by the executor and trustee,” Calo said.
Investigators determined that Kapadia “liquidated estate investment funds and transferred in excess of $400,000 to bank accounts that she controlled for her own benefit,” the prosecutor said. “She then concealed her illicit activities by providing the named beneficiaries with falsified investment fund and tax documents.”
Kapadia is charged with misapplication of funds and falsifying records.
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