A Beachwood man has been sentenced to seven years in prison after admitting to stealing over $1.3 million from the car dealership where he worked by creating fake advertising companies and charging the dealership for nonexistent services.
Martin L. D’Amato, 40, pleaded guilty in April to one count of theft in the case overseen by Superior Court Judge Kimarie Rahill, according to the Ocean County Prosecutor’s Office.
The scheme was uncovered in October 2021, when the unidentified dealership noticed unexpected spikes in its credit card expenses. A deeper review revealed that D’Amato, who oversaw digital advertising for the company, had been charging the dealership for marketing services that were never delivered.
Between April 2019 and September 2021, D’Amato created and operated multiple fake LLCs that posed as legitimate advertising vendors. Using an online payment platform, he issued invoices and processed payments, hiding his personal connection to the shell companies. The funds were then transferred to bank accounts under his control and used for personal spending.
D’Amato was arrested in September 2022 and initially held in Ocean County Jail before being released under New Jersey Bail Reform.
In addition to his seven-year prison term, D’Amato has been ordered to pay $1,329,677 in restitution to the dealership.
