A Barrington man who served as Chief Operating Officer for a Westville security business was charged on July 16 for his role in embezzling $3 million from the company and bank fraud resulting in a $9 million loss of funds held in trust for a bank, according to U.S. Attorney Robert Frazer.
Also charged was a Clementon man, the Deputy Director of the same security company, for his involvement in embezzling over $2 million. Both men were arraigned before U.S. Magistrate Judge Elizabeth A. Pascal at Camden federal court following their indictments.
According to documents filed in this case and statements made in court, Robert Cormier, 51, started Erigere Rapidus Solutions, Inc. (ERS) in 2017. In late 2019, ERS entered an agreement with a local bank to handle cash collection and deposit services on behalf of the bank at the Federal Reserve Bank in Philadelphia. From March 2019 to September 2022, ERS managed millions of dollars daily for the bank, but by the end of their relationship more than $8 million was missing from ERS’s vault.
Beginning in 2020 through 2022, Cormier allegedly took unauthorized cash from ERS’s vault totaling approximately $3 million, which he used for payrolls, business expenses including installation of security systems and vehicles, as well as personal expenditures such as home renovations and family expenses. The indictment alleges that Cormier failed to report this income or pay payroll taxes to the IRS.
Similarly, Richard Eisler is accused of taking approximately $2 million without authorization between 2020 and late 2021. Eisler allegedly used these funds for personal purchases including luxury vehicles such as an Audi RS7 and Porsche 911; wedding expenses; home improvements; and paying off loans. He also did not report this income to tax authorities and is accused of attempting witness tampering during the investigation.
The charges against both men include multiple counts with maximum penalties ranging up to decades in prison and substantial fines depending on each count’s specifics involving embezzlement by bank agent, money laundering, tax evasion, or witness tampering.
Frazer credited special agents from the Federal Bureau of Investigation’s Philadelphia Division under Wayne Jacobs’ direction; Internal Revenue Service – Criminal Investigation Newark Field Office under Jenifer L. Piovesan; along with assistance from Camden County Prosecutor Grace MacAulay’s office with leading this investigation. Assistant U.S. Attorney Jason Richardson represents the government.
Cormier is represented by Maggie Moy, while Eisler is represented by Zach Intrater.
The charges are accusations only; both defendants are presumed innocent unless proven guilty.
The U.S. Attorney’s Office for the District of New Jersey prosecutes federal crimes across New Jersey—including cases like this—and represents civil matters statewide through offices located in Newark, Trenton and Camden with about 170 attorneys and support staff as part of its operations within the Department of Justice structure, according to its official website.