Newark Resident Charged with Theft and Misconduct
By: Moe M.
On October 7, 2017, the Bergen County Prosecutor’s Office announced the arrest of a man named Peter Live, a forty-one (41) year old resident of Newark. Mr. Live was arrested for Failure to Make Lawful Disposition of Property Received, Theft by Deception, and Misconduct by a Corporate Official charges.
Throughout the time period of December 2016 and June 2017, police officers at the Fort Lee Police Department were notified of complaints from five (5) clients of Live Realty, Inc. Live Realty, Inc. is a realty company located in Fort Lee, New Jersey, owned and operated by Peter Live.
The grievances all related in that each of the clients put down payments towards buying a real estate property from Peter Live, however instead of putting it in escrow, Mr. Live kept the money. None of the real estate properties for the clients were ever completed and ultimately failed. Peter Live obtained roughly $345,000 from these clients and deposited them into his own business accounts.
Law enforcement investigated into Peter Live and ultimately arrested him on October 5, 2017 in Paramus, New Jersey. Peter Live was charged with Second-Degree Failure to Make Lawful Disposition of Property Received, with a value greater than $75,000, Second-Degree Theft by Deception, with a value greater than $75,000, and Second-Degree Misconduct by a Corporate Official, thereby deriving a benefit greater than $75,000. He is set to appear at the Bergen County Central Judicial Processing Court located in Hackensack, New Jersey on October 18, 2017.
All persons are assumed innocent until proven guilty in a court of law.