Defendant must pay $75,000 in restitution by April 30, 2017 or be sentenced to five years in state prison.
HILLSBOROUGH -- Martha Figalora still can't believe her trusted friends stole more than $200,000 from her in a real estate scheme. It was her life savings and left her destitute.
Figalora, 74, received a measure of justice Friday in Somerset County Superior Court before Judge Robert B. Reed.
Assistant Prosecutor Frank KolodzieskiUnder a plea agreement, Wilhelmina Gangi pleaded guilty to second-degree theft by failure to make required disposition of property and was entered into the Pre-Trial Intervention (PTI) Program.
As a condition of being accepted into the program and avoiding jail time, Gangi must pay Figalora $75,000 by April 30, 2017 or she'll be terminated from the PTI program, returned to court and sentenced to five years in state prison.
"I'm glad it's over," said an emotional Figalora. "I hope she never does this to anyone else again. I thought she was my friend. I treated her like family and she took advantage of me. I'm so thankful to the prosecutor's office. They did a great job. It's finally over after so long.
"This will help me sleep a lot better. Now, I know I have something to fall back on where I didn't have anything after this happened. I don't have to worry about being buried."
In addition to losing her life savings, Figalora had her home in Hillsborough foreclosed and she continues to live in a garden apartment because of the scheme.
Assistant Prosecutor Frank Kolodzieski handled the case for the state.
Judge Reed assured Gangi that she'll go to prison if she doesn't pay the restitution by April 30. Gangi must also serve 50 hours of community service.
NJ woman left penniless by longtime friends
"I'm happy this is resolved," said Somerville-based defense attorney Michael Rogers. "Mrs. Figalora will receive her money guaranteed and my client gets this behind her. The agreement is good for all concerned."
Wilhelminia, 59, and her late husband Thomas Gangi Jr, 65, initially pleaded not guilty in April, 2015. They had also been charged with second-degree theft by deception and second-degree misapplication of entrusted property. She was facing 10 years in state prison.
According to the prosecution, in June 2010, the couple entered into an agreement with Figalora to purchase a residential property in Matawan, renovate it and resell it, with the victim getting back her original investment and a share of the profits, it was previously reported. She purchased the property for approximately $135,000.
Thomas Gangi Jr. was a contractor and was to do much of the work.
Instead, the couple took out loans against two properties that Figalora owned and used the money to finance a luxury-filled lifestyle that included mink coats, fancy dinners, a new car, expensive clothing and visits to pet salons.
In April 2013, the couple finished renovating the property and sold it for approximately $343,000 but didn't tell Figalora, authorities have said. After paying off the loans, the couple received a balance of $156,607.88.
Dave Hutchinson may be reached at dhutchinson@njadvancemedia.com.Follow him on Twitter @DHutch_SL. Find NJ.com on Facebook.