††††††††††††††††††††††† ††††† *News
Release*†††††††††††††††† Date: April 15, 2013
†††††††††††††††††† †††† Middlesex
County Prosecutorís Office
††††††††††††††††††††††† ††††† *News Release*†††††††††††††††† Date: April 15, 2013
Middlesex County Prosecutor Bruce J. Kaplan announced today that a Monmouth County insurance salesman and purported financial advisor has been sentenced to serve up to 10 years in a New Jersey state prison for defrauding 20 clients out of nearly $1.5 million.
L. Zemlock (DOB 04/29/1962) of the Morganville section of
sentence was imposed on April 12, 2013 during a hearing before Superior Court
Judge Bradley Ferencz at the Middlesex County Courthouse in
Zemlock pleaded guilty on February 4, 2013, to a count of theft by failure to make the required disposition of property received. He admitted the charge under an agreement reached with Middlesex County Assistant Prosecutor Thomas Mannion.
Zemlock was arrested on April 20, 2012, for the third time in four weeks after a client became suspicious of his investment advice, declined to give him $129,000, and contacted police.
Investigation up to that point revealed that Zemlock had accepted over $300,000 from five other clients, promising them that he would invest the money, but he diverted it for his personal use.† Based on this information, Zemlock, who owned a business known as Jay-Zee Financial Group Inc., was arrested and charged.
was the third arrest for Zemlock, who was originally charged on March 20, 2012.
The victim in that case was identified as a 74 year-old
††††††††† Following the publication of that arrest, a
Investigation by Detective Ronald Seaman of the South Brunswick Police Department and Investigator Donald Heck of the Middlesex County Prosecutorís Office further determined that the majority of victims were senior citizens.
also determined that Zemlock had been operating his business out of his
home.† In addition to an insurance