A property manager for a Moorestown real estate firm faces theft charges for allegedly keeping tens of thousands of dollars in rent money meant for landlords who hired the company to manage their properties.

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Randal S. Maher, 40, of Cherry Hill, posted $100,000 bail Wednesday and was released after being charged with theft by deception and misapplication of entrusted property, according to information from the office of Burlington County Prosecutor Robert D. Bernardi.

Investigators estimate the amount of diverted money as $189,055 thus far, connected to 101 properties Maher managed in Burlington, Camden and Gloucester Counties.

Randal S. Maher (Burlington County Prosecutor's Office)
Randal S. Maher (Burlington County Prosecutor's Office)
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Maher is accused of defrauding his employer and violating New Jersey Real Estate Commission regulations by creating a separate entity, S.J. Property Management, and instructing tenants to pay rent and security deposits directly to him or his company. Maher allegedly took payments in cash as well as by check, and arranged an online portal for direct deposit into a bank account he established.

Maher's employer brought the matter to law enforcement after fielding numerous complaints about missing funds from property owners and landlords, authorities said. Some said that they hadn't been paid in months and were told by Maher that tenants were behind in their payments, along with other rationalizations, authorities said.

Several renters complained of not receiving security deposits upon leaving units in which their leases had expired, authorities said.

The case is being referred to a Burlington County grand jury. Meanwhile, investigators still seek information about Maher from people involved in transactions with him. The Prosecutor's financial crimes unit can be reached at 609-265-5035.

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