Wall Man Facing Ocean County Theft Charge

A Wall man and local investor was charged at his home with theft of more than $75,000 in investors' funds that he allegedly used for his own personal purposes, authorities said on Friday.

Peter M. Martorana, 59, who owns Retirement Benefit Specialist, 730 Jamaica Blvd., Suite 11, Toms River, was arrested on Wednesday by the Ocean County Prosecutor's Office.

Police in Wall and Berkeley assisted in the investigation, that began in June and is continuing, that led to the arrest by the Prosecutor's Office's Special Investigations Unit: Economic Crimes Bureau. 

"Detectives armed with an arrest warrant, as well as search warrants, executed search warrants at both Mr. Martorana’s residence in Wall and his place of business" and removed evidence from both locations, says a prepared statement from the prosecutor's office.

Martorana is suspected of using investors' funds "for his personal gain over a period of four years," the statement says.

The Honorable Superior Court Judge Wendel E. Daniels set bail for Martorana at $75,000, no ten percent.  

The prosecutor’s office is asking that anyone with information regarding this investigation or anyone who has given money to Martorana and/or Retirement Business Specialist for investments to please contact Detective James Conroy, who is leading the investigation, at the prosecutor's office at (732) 929-2027 ext. 4362.

The prosecutor's Hi-Tech Crimes Unit also assisted in the investigation.

Criminal charges are merely accusations and that this defendant is presumed innocent until and unless proven guilty, the statement says.