Defendant overbilled clients of company and pocketed the funds, the prosecution said.
FRANKLIN -- A Paramus man charged with stealing more than $1 million over a three-year period by overbilling a Somerset transportation company pleaded guilty to second-degree theft on Thursday in Somerset County Superior Court.
Mike Karapiperis (Somerset County Prosecutor's Office)Mike Karapiperis, 48, was an employee of Roadtex Transportation in Somerset. During his duties that included contracting and pricing trucking routes, he stole funds, according to the prosecution.
Under his plea agreement, Karapiperis acknowledged stealing at least $75,000 from the company. He has agreed to pay restitution in the amount of $80,000.
However, since the amount is not what the company alleged was stolen, it has reserved the right to file a civil suit against Karapiperis after the criminal proceedings are complete, according to court documents.
Assistant prosecutor William Guhl handled the case for the state.
Judge Robert B. Reed set June 9 as the sentencing date.
In May, 2016, the owner of Roadtex Transportation reported that he was being overbilled for truck load deliveries by P & A Trucking Transportation, a company with whom Roadtex contracted with, it was previously reported.
An investigation revealed that Roadtex was charged inflated prices for shipping by P & A, a price that was set by Karapiperis, the prosecution said. The excess money charged was deposited into Karapiperis' personal bank account, authorities stated.
Records showed that Karapiperis received more than $1 million in overbilled funds from P & A Trucking between 2012 and 2015 from money that had been charged to Roadtex, the state said.
Dave Hutchinson may be reached at dhutchinson@njadvancemedia.com. Follow him on Twitter @DHutch_SL. Find NJ.com on Facebook.