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Staten Island man accused of ‘lining his own pockets’ with more than $1M from Long Island City company: DA

Queens District Attorney Melinda Katz announced that a Staten Island man was charged with grand larceny for allegedly siphoning $1.4 million from a Long Island City company. (Photo by Mark Hallum)

Nov. 8, 2023 By Bill Parry

A Staten Island man was criminally charged with grand larceny and other crimes on Nov. 6 for allegedly siphoning $1.4 million from a Long Island City apparel company where he worked as the financial controller, Queens District Attorney Melinda Katz announced on Nov. 8.

Glenn Jakers, of South Railroad Avenue, was arraigned in Queens Criminal Court on a complaint charging him with grand larceny in the first degree for cooking the books and using the money to purchase luxury items, for personal expenses and to fund The G.O.A.T., a bar on Staten Island, prosecutors said.

According to the charges, Jakers worked at Eric Javits, Inc. from November 2014 through May 9, 2020, where he was responsible for drafting checks made payable to vendors of the company. From 2015 to 2020, Jakers allegedly received at least 150 unauthorized payments totaling $1,396,444.37 from the company to his own accounts or to a company associated with him.

Jakers issued unauthorized Eric Javits, Inc. company checks totaling $1,013,211.82, the charges allege. Most of the funds went to his own bank account, with $263,861.37 funneled to a business account under the name Kaylex Inc. That account was tied to Jakers and used to operate The G.O.A.T. bar, at 1674 Richmond Avenue, Staten Island.

A total of $156,546.49 was also transferred from the Eric Javits PayPal account to PayPal accounts associated with Jakers, according to the charges. Jakers, who was also responsible for managing the company’s payroll, received unauthorized payroll adjustments totaling $226,686.06.

Records show that Jakers spent all of the funds he transferred to himself from Eric Javits, Inc.,
including approximately $37,634 on purchases at Amazon, $32,728 at a liquor store, $20,329 at
StubHub, $4,840 at Apple, $1,154 at Louis Vuitton and $1,192 at Gucci, according to the charges. Money also went to steakhouse dinners, to buy items at a Halloween store and to the Raymour & Flanigan furniture shop.

“This defendant is accused of lining his own pockets at the expense of a company operating in Queens,” Katz said. “We will not tolerate our businesses becoming targets of theft, whether at the retail level or by company employees. We will prosecute anyone who would undermine a Queens company and, by extension, its employees and our local economy.”

Queens Criminal Court Judge Jerry Iannece ordered Jakers to return to court on Jan. 22. If convicted, Jakers face up to 25 years in prison.

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