By Forum Staff
Queens District Attorney Melinda Katz announced on Wednesday that Glenn Jakers was charged with grand larceny, accused of siphoning $1.4 million from Eric Javits, Inc., a Long Island City apparel company where he worked as the controller.
The money allegedly was used to buy luxury items, for personal expenses and to fund The G.O.A.T. bar on Staten Island.
Jakers, 61, of Staten Island, was arraigned Monday on a complaint charging him with grand larceny in the first degree; criminal possession of stolen property in the first degree; and five counts of criminal possession of a forged instrument in the first degree.
Courtesy of Amazon
Records show that Jakers allegedly spent all of the funds he transferred to himself from Eric Javits, Inc., including approximately $37,634 on purchases at Amazon.
According to the charges:
Jakers worked as the controller at Eric Javits, Inc., which is owned by Eric Javits, from November
2014 through May 9, 2020. He was for responsible drafting checks made payable to vendors of the company.
From 2015 to 2020, Jakers 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. 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 Ave.,
Staten Island.
A total of $156,546.49 was also transferred from the Eric Javits PayPal account to PayPal accounts associated with Jakers.
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.
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.”
If convicted, Jakers faces up to 25 years in prison.
