A pain management doctor with a Red Bank-based practice admitted Wednesday that he embezzled more than $1.1 million from the business, U.S. Attorney Paul J. Fishman announced.
Robert Muscio, 40, of Colts Neck pleaded guilty to one count of committing mail fraud to embezzle the funds.
Between 2007 and 2008, Muscio misused his position as medical director of a practice with which he is no longer associated to write checks on the practice’s bank account to pay his personal expenses, the U.S. Attorney's Office said in a press release. To conceal this his partners, Muscio falsely described the payments as business expenses of the practice.
The mail fraud count is punishable by a maximum sentence of 20 years in prison and a $250,000 fine. Sentencing is scheduled for May 21, 2014.