Adviser Loots Charity of $9M for Porsche, Rolls, Real Estate

An investment adviser misappropriated more than $9 million from a New Jersey-based charitable foundation funded by a philanthropist’s estate, spending the money on a Porsche, Rolls-Royce, and other “lavish” items, according to recently released court documents.

John Rogicki, of Little Silver, N.J., pleaded guilty Oct. 19 in New York state court to first-degree grand larceny and money laundering in connection with the theft (People v. Rogicki, N.Y. Sup. Ct., No. SCI-03960-2017, guilty plea 10/19/17), according to the Manhattan District Attorney’s Office. He could spend up to seven and a half years in prison and pay $9.2 million in ...