Former broker sentenced to 4 years in prison for theft of $472K

MORRISTOWN, NJ (Morris County) – Keith Enlow, 36, of Pequannock was sentenced Friday to four years in New Jersey State Prison and ordered to pay full restitution by the Honorable Thomas J. Critchley, J.S.C. according to Morris County Prosecutor Fredric M. Knapp.

Enlow plead guilty on July 9 to one count of second-degree theft by deception.

The case came to the Morris County Prosecutor’s Office as an allegation of the theft of $472,000.00 from the victim.

Enlow, a former registered representative at a brokerage in Passaic County, convinced the victim to move her money into an online brokerage account where he claimed he would manage the funds for the victim’s benefit.

After the money was moved, Enlow withdrew approximately $9,400.00 each month to pay for his own personal expenses. He also transferred money into accounts under his own name, in which he conducted highly speculative losing trades.

As a result of Enlow’s losing trades and the withdrawal of the victim’s money for his own benefit, the victim suffered a loss of $472,000.00 within approximately 18 months.

This investigation was conducted by the Morris County Prosecutor’s Office Financial Crimes Unit.

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By: Jay Edwards Follow on Twitter | Like on Facebook