TO: ALL NEWS MEDIA
FROM: PROSECUTOR GURBIR S. GREWAL
DATE: OCTOBER 7, 2017
Bergen County Prosecutor Gurbir S. Grewal announced the arrest of PETER LIVE (DOB: 04/26/1976; single; and self-employed) of 87 Vesey Street, Newark, NJ on Failure to Make Lawful Disposition of Property Received, Theft by Deception, and Misconduct by a Corporate Official charges. The arrest is the result of an investigation conducted by members of the Bergen County Prosecutor=s Office Financial Crimes Unit under the direction of Chief Robert Anzilotti and the Fort Lee Police Department under the direction of Chief Keith Bendul.
Between December 2016 and June 2017, the Fort Lee Police Department received complaints from five clients of Live Realty, Inc., a Fort Lee-based realty company owned and operated by Peter LIVE. Each of the complainants reported that they had made down payments relative to real estate purchases directly to Peter LIVE and that instead of holding the money in escrow, Mr. LIVE kept the money and failed to complete the real estate transactions. The investigation revealed that Peter LIVE received approximately $345,000 from his real estate clients which he deposited into business accounts under his control, and then withdrew and used the funds for his own purposes. Peter LIVE did not complete any of the related property purchases for the complaining clients.
As a result of the investigation, Peter LIVE was arrested on Thursday, October 5, 2017 in Paramus, NJ. Mr. LIVE was charged with one count of Failure to Make Lawful Disposition of Property Received, with a value greater than $75,000, in violation of N.J.S.A. 2C:20-9, a 2nd degree crime; one count of Theft by Deception, with a value greater than $75,000, in violation of N.J.S.A. 2C:20-4, a 2nd degree crime; and, one count of Misconduct by a Corporate Official, thereby deriving a benefit greater than $75,000, in violation of N.J.S.A. 2C:21-9c, a 2nd degree crime. Mr. LIVE was served with a Complaint- Summons and released, and is scheduled to appear in Bergen County Central Judicial Processing Court for a first appearance on Wednesday, October 18, 2017 at 8:30 a.m.
Prosecutor Grewal states that these charges are merely accusations and that the defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt.