Township Man Charged With Failing to Repay $100K Loan

Police arrested a 51-year-old Washington Township man who allegedly failed to repay a $100,000 loan.

Dennis McDine was charged Wednesday morning with theft by deception, a second degree crime.

George Juchnewich loaned the money to McDine as an investment for local grocery stores in January 2012, according to a press release from Bergen County Prosecutor John L. Molinelli. McDine was supposed to loan the money to stores and, after a year, pay back Juchnewich with interest.

In January, Juchnewich asked for the money back. McDine allegedly didn't make any payments, so Juchnewich attempted to collect through the listed collateral, Oscar Foods, Inc. of Newark.

Detectives from the White Collar Crimes Unit allegedly found that McDine didn't own Oscar Foods and he had been spending the money on personal expenses, rather than the agreed investment.

McDine was released on his own recognizance. He's due for his first appearance in Bergen County Municipal Court Friday afternoon.

Editor's note: The charge of theft by deception against Mr. McDine was dismissed pending his participation in a pre-trial intervention program, court documents show.

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