#b#Roma Bank: $1 Million Kited#/b#
Bankers with Roma Financial said the holding company has lost $1.1 million to a check-kiting scheme.
Roma CEO Peter Inverso told the FBI the scammer was a commercial client of the bank, and that several other banks were involved in the scheme. Check-kiting is a form of financial fraud in which someone writes bad checks, covering the balance for one account with a bad check from another bank. Check-kiting takes advantage of the fact that two banks involved in financial transactions often have a slight delay in comparing their financial records. No arrests have been reported.
Roma, which is located in Robbinsville Town Center, is being acquired by Investors, a Short Hills-based firm. Roma’s stock price was unaffected by the disclosure, which was made public the Friday before Memorial Day.
#b#New Schedule For NJ Transit Trains#/b#
Track work means new train schedules and longer trips starting June 2 for commuters who use NJ Transit’s Northeast Corridor trains. The long-term tie replacement project means Amtrak, which owns the rails, will take one of the four tracks that make up the line out of service at a time, starting with Track 4.
Service will be altered all along the line as trains are re-routed over the remaining three tracks. To reduce delays, NJ transit is removing certain stops from the affected work areas to keep the trains moving. The new schedules will show slightly longer travel times to and from Trenton, and fewer departures per day.
NJ Transit warned travelers that delays caused by disabled trains or other problems could last longer because of fewer tracks being available.
When work is done on Track 4, crews will begin work on Track 1 and a new schedule will be released. The overall project is expected to last into the fall, with each track taking several months to complete. The new schedules are available on www.njtransit.com. NJ Transit will also post project updates to the website.
TMC (Training Management Corporation), 400 Alexander Park Drive, Princeton 08540; 609-951-0525; fax, 609-951-0395. www.tmcorp.com.
Alexander Park-based corporate training company TMC is partnering with Development Dimensions International of Pittsburgh. TMC, which is owned by Berlitz Company, will offer DDI’s leadership development programs and DDI will offer TMC/Berlitz’s programs including its Culture Navigator online platform.
Pharmaceutical Advisors, 330 Wall Street, Second Floor, Princeton 08540-; 609-688-1330; fax, 609-228-5889. Paul Woitach, president. www.pharmaadvisors.com.
Pharmaceutical Advisors has moved from 316 Wall Street to new quarters at 330 Wall Street. Company president Paul Woitach said the move was to “optimize office space.” The company has three people in its Princeton office who manage a nationwide team. Pharmaceutical Advisors helps drug companies take products from discovery to development.
Newmark Knight Frank, 301 Carnegie Center, Suite 301, Princeton 08540; 609-896-1600; fax, 609-896-1753. John H. Buschman, managing principal. www.newmarkkf.com.
Commercial real estate firm Newmark Grubb Knight Frank has closed its Carnegie Center office and moved to a complex in New Brunswick.
“We consolidated our central New Jersey offices of Princeton and Edison into a new central New Jersey headquarters with expansion and growth,” said David Simson, vice chairman and COO of the company’s New Jersey branch.
NRG Energy Inc. (NRG), 211 Carnegie Center, Princeton 08540-6213; 609-524-4500; fax, 609-524-4501. David Crane, president and CEO. www.nrgenergy.com.
Carnegie Center-based renewable energy company NRG has announced a partnership with Starwood Hotels Resorts Worldwide Inc. to equip Starwood properties with solar panels. NRG will own the panels and sell power to Starwood.
Taconic, 5 Cedar Brook Drive, Cedar Brook Corporate Center, Cranbury. www.taconic.com.
Taconic Inc. has closed its office located in Cedar Brook Corporate Center in Cranbury. The biotech company provides mice and rats for medical research around the world and still has facilities in New York, Indiana, California, Germany and Denmark.
Sky High Energy, 51 Everett Drive, West Windsor; www.skyhighenergy.com.
Sky High Energy, an Arizona-based solar panel installation firm, has vacated its office at 51 Everett Drive only a year after opening there.
North American Electric Reliability Council (NERC), 116 Village Boulevard, Forrestal Village. www.nerc.com.
The North American Electric Reliability Corporation has closed its Princeton office after moving its headquarters to Atlanta in 2011.
NERC is a not-for-profit company with the mission of ensuring reliable electricity in the United States, Mexico and Canada. The company also has an office in Washington.
Hyatt Regency Princeton (H), 102 Carnegie Center, Princeton 08540-6293; 609-987-1234; fax, 609-987-2584. Paul V. Pisarz, general manager. princeton.hyatt.com.
Hyatt Regency Princeton is nearing completion of a $19 million renovation project set to be finished July 2013. The property, located in Carnegie Center, is adding 12,000 square feet of meeting space, bringing the hotel’s total to 32,000 square feet. Among the additions are a junior ballroom, a business center and 12 “breakout” rooms next to the main ballroom.
Financing Set for 5-13 Witherspoon
Developer Jeffrey Siegel and an affiliate of ML7 have taken out an $8.2 million commercial loan for 5-13 Witherspoon Street, a retail and apartment property across Nassau Street from Princeton University that includes the new Agricola restaurant.
Cantor Commercial Real Estate provided the loan and Cushman & Wakefield served as an advisor to Siegel and the investment company ML7. The property, which was recently renovated, consists of 17,000 square feet of shops, offices, and apartments.
Matrix Realty Inc., a Monroe-based real estate company, has bought the 146,529 square-foot warehouse at 20 South Middlesex Avenue in Monroe from the Sanchez Cano candy company of Spain. Matrix paid $7 million, or about $48 square foot for the property, which was built in 1992 and has been vacant since January.
Dale Ronald Roylance, 88, on May 30. He was a curator of graphic arts at Princeton University’s Firestone Library and founding member of the West Windsor Arts Council.
James A. Eby, 83, on May 30. He was employed by Fifth Dimension, Inc. and later was a founding member of BaseTen Systems, from which he retired in 1998.