The owner of an Ohio medical supply business admitted in federal court to fraudulently billing a New Jersey company to fill his own bank account and buy himself several luxury items.

U.S. Attorney Paul J. Fishman said 44-year-old John Tekulve of Milford, Ohio, admitted to running the scam between January 2011 and October 2012. Fishman said Tekulve had the company's credit card number and charged more than $950,000 "for products and services that neither Tekulve nor his medical supply company provided."

With close to a million dollars, Fishman said the man used the money to buy high-end automobiles and jewelry among other high-end purchases.

Tekulve, who pleaded guilty to wire fraud, faces a maximum penalty of 20 years in prison and a fine of either $250,000 or twice the gross gain or loss from the offense.

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