KENILWORTH — A West Orange man who allegedly spent the last several weeks representing himself as a major shareholder in the Jamba Juice Company to attempt solicit investors under false pretenses was arrested last week, Union County Prosecutor Theodore J. Romankow announced Monday.
Michael T. Guidice, 46, was arrested in Kenilworth following an undercover operation by the Kenilworth Police Department and the Union County Prosecutor’s Office. He is currently charged with one count of second degree attempted theft by deception, said Romankow.
Authorities were notified of Guidice’s alleged attempts to solicit funds from patrons of restaurants in Union County. A would-be target of the defendant became suspicious after several meetings with Guidice, who allegedly claimed to be a representative of Jamba Juice, authorities said.
“During these meetings Guidice claimed to own 25 Jamba Juice locations including the one in Times Square, one at the Garden State Mall in Paramus and one in New Brunswick,” said Romankow.
In meetings with potential victims, Guidice allegedly promised a return of five times their initial investment within 60 days. Authorities confirmed that Guidice has no business relationship with Jamba Juice or any of their franchises.
Last week, Guidice met with an undercover police officer in Kenilworth and allegedly attempted to solicit money from that officer by promising the same financial return he had indicated to others.
After accepting a cashier’s check for $90,000, Guidice was immediately arrested, authorities said. He was transported to the Union County Jail where he being held on $75,000 bail.
The Prosecutor’s Office Special Prosecutions Unit and the Kenilworth Police Department are continuing to investigate. Authorities are encouraging anyone who might have additional information regarding Guidice to contact Kenilworth Police Department Lt. Timothy Dowd at 1-908-276-7037 or Prosecutor’s Office Det. Johnny Ho at 1-908-527-4551.
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