Hudson County Inmate Pleads Guilty to Issuing $4,000
in Bad Checks to Purchase Annuity

TRENTON - Criminal Justice Director Gregory A. Paw announced that a Hudson County prison inmate has pleaded guilty to theft for issuing worthless checks to purchase a $4,000 annuity investment.

According to Insurance Fraud Prosecutor Greta Gooden Brown, Angel C. Fontaina, 35, incarcerated in the Hudson County Jail on unrelated charges, pleaded guilty before Hudson County Superior Court Judge Sheila A. Venable to an accusation which charged third degree theft by deception. Fontaina faces up to five years in state prison and a fine of up to $15,000 when sentenced on April 15.

In pleading guilty, Fontaina admitted stealing $4,600 in connection with an annuity investment issued by the General Electric Capital Assurance Program by issuing worthless checks to fund the investment. Investigation by the Division of Criminal Justice - Office of Insurance Fraud Prosecutor determined that Fontaina made withdrawals from the General Electric Capital Assurance annuity and used the cash for his own purposes. GE subsequently determined that Fontaina’s initial checks funding the account was worthless.

State Investigator Lisa Shea, and Deputy Attorney General Nicholas R. Vasile were assigned to the investigation. DAG Vasile represented the Division of Criminal Justice - Office of Insurance Fraud Prosecutor at the guilty plea hearing.

“Annuity investments are frequently sold by licensed insurance agents,” Fraud Prosecutor Brown said. “In this case, the theft was committed with the issuing of worthless checks in connection with the investment. Insurance fraud can often take many different criminal forms and this office will investigate and prosecute theft and fraud no matter what form it takes.”