Security company founder stole millions in cash from his own NJ vault, feds say

⚠️ Federal prosecutors say millions disappeared while a South Jersey security company handled bank cash deposits.

➡️ The company's founder is accused of stealing about $3 million for personal and business expenses.

🔴 A second employee is charged with stealing at least $2 million and trying to influence a witness.

WESTVILLE — The founder of a South Jersey company that securely transported millions of dollars for banks faces decades in prison.

Robert Cormier, 51, of Barrington, first appeared in federal court in Camden last month, according to U.S. Attorney Robert Frazer. He's charged with embezzlement by a bank agent, bank fraud, tax evasion, money laundering, and failure to pay payroll taxes. The embezzlement count alone carries up to 30 years in prison and millions of dollars in fines.

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Federal prosecutors said in 2017, Cormier founded security company Erigere Rapidus Solutions in Westville. An ERS press release from that year says it provides "high level security, safety and response training, investigative services, and security planning and operation."

Prosecutors say millions disappeared from a bank cash vault

Two years later, ERS contracted with a local bank to collect, transport, and deposit cash on its behalf. The security workers were tasked with picking up cash from the bank's customers and storing that money in an ERS vault until it could be deposited at the Federal Reserve Bank in Philadelphia. It was Cormier's job to provide accurate cash reports to the bank every day, prosecutors said.

The agreement lasted between March 2019 and September 2022. During that time, ERS held anywhere between $1 million and $12 million in its vault for the local bank. However, prosecutors said that $8 million was missing when the bank ended its relationship with ERS.

A white Audi R8 (Photo by Ben Weber on Unsplash)

Second employee also accused of stealing bank funds

Investigators found that Cormier stole around $3 million for a wide variety of personal and business expenses, including: household renovations, a new pool and deck, ERS employee payroll, company vehicles, and security system expenses.

Another employee, Richard Eisler, 38, of Clementon, is also charged with embezzlement by a bank agent, concealment of money laundering, money laundering, income tax evasion, and witness tampering. Eisler is accused of stealing at least $2 million of the bank's money from the ERS vault and then trying to convince a witness to lie to detectives.

Federal prosecutors said that Eisler used his stolen cash to pay for luxury vehicles, including an Audi RS7, Audi R8, Porsche 911, Ford F-450 truck, Dodge Durango, and a Harley-Davidson motorcycle. The funds were also used to pay for his wedding rings, wedding reception, and a new roof for his home, according to authorities.

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