NJ man gets 5 years for fleecing parents of $1.35M

NJ man gets 5 years for fleecing parents of $1.35M

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TRENTON, N.J. (AP) - A New Jersey man has been sentenced to five years in prison after he admitted he ripped off his parents for more than $1 million while serving as their financial adviser.

Hugh Hunsinger of Pine Brook pleaded guilty in August to theft by unlawful taking. He admitted that for more than six years beginning in January 2005 he transferred $1.35 million from accounts he was managing for his parents into his own accounts. He admitted using the funds for his personal expenses.

As part of his sentence in state Superior Court in Bergen County Friday, Hunsinger's insurance producer's license will be suspended for five years. He will also pay restitution to his parents.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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