A New Jersey boat dealer was arrested by police in Egg Harbor Township on Thursday and accused of taking boats in trade and reselling them without paying off the loans.
Tracy Blumenstein, who owns Professional Boat Sales, Service and Storage in Egg Harbor Township, was charged with issuing bad checks and theft by deception, investigators told the Press of Atlantic City.
Police began investigating Blumenstein in October after getting a tip. They say they have identified four victims.
Blumenstein was charged with issuing bad checks in the amount of $33,000 after complaints were signed by an individual regarding the sale of his boat, police said.
Police said one of Blumenstein’s employees is also likely to face charges, but they did not release his name.