BAYONNE — Brian Campbell, former managing director of Bayonne-based Pamrapo Saving Bank’s investment company, was arrested today and charged with allegedly diverting and embezzling more than $600,000, according to a press release. This comes less than two months after Pamrapo merged with Bayonne Bank Corps.
Long rumored as a possibility, the charges were announced on June 2 by Paul J. Fishman, United States Attorney for the District of New Jersey, and other officials.
Campbell, 41, of Bayonne was arrested the morning of June 2 by IRS agents and was scheduled to make his initial appearance before United States Magistrate Judge Madeline Cox Arleo at 1 p.m. in Newark. Campbell is charged in a 54-count Indictment, returned by a federal grand jury on May 27, 2010, with mail fraud and money laundering.
Trustees of the Pamrapo were scheduled to meet at noon and planned to issue an official statement later.
Al Sullivan
Author of “Everyday People: Profiles from the Garden State” (Rutgers University Press 2001)
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