John J. Katsock, Sr., 74, a financial advisor and accountant from Yardley, Pennsylvania, has been accused of stealing over $200,000 from a client’s trust. His business, J. J. Katsock & Company, is in Fairless Hills, Pennsylvania.
Katsock was charged with second degree theft, second degree deception and second degree misapplication of entrusted property. His bail was set at $75,000.
Allegedly, John Katsock diverted money from the trust accounts. Katsock directed his client to make estimated tax payments to the IRS and the State of New Jersey Division of Taxation on behalf of the trust. Officials allege that the trust owed almost no taxes, and Katsock's scheme generated large tax refunds that he then deposited into the trust. Katsock then transferred the money to accounts he controlled.
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