A Stafford Township man who worked as a developer in the Long Beach Island region was convicted Friday of deceiving investors and stealing more than $1 million connected to building projects.
David K. Haugland was convicted on two counts of second-degree theft and one count of second-degree attempted theft. Each second-degree charge carries a possible five to 10 years in state prison.
Haugland, 41, was involved in business activities connected to three construction or proposed construction projects at 1410 S. Beach Avenue in Beach Haven; 6 Edge Water Drive in North Beach, Long Beach Township; and 6013 Ocean Beach Blvd., Brant Beach, Long Beach Township.
The jury found that the defendant deceived investors about these projects in connection to his ownership status in the properties or his authority to deal in the property to convince the victims to invest, Ocean County Prosecutor Joseph Coronato said Friday.
The jury also found that Haugland failed to use money received from investors for construction on the respective properties as specified in his agreements with them.
The jury determined that the total amount taken by the defendant from 12 investors was $1,092,500. The jury also found that Haugland worked to obtain a mortgage loan over $75,000 by providing false information to a bank.
Haugland was charged with one count of money laundering, but the jury failed to reach a verdict on that charge. Haugland is subject to retrial on that count, Coronato said.
Detective James Conroy, of the Ocean County Prosecutor’s Office Economic Crimes Unit, lead the investigation and the case was presented to the jury by Senior Assistant Prosecutors Martin Anton and Peter Ryan. The defendant was represented by V. Scott Macom, of Egg Harbor Township.
Sentencing is scheduled for April 4 before Ocean County Superior Court Judge Rochelle Gizinski. Haugland remains free on bail pending sentencing.
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