The Worst Son In New Jersey?

A former Morris County financial advisor has pleaded guilty to bilking his parents out of more than $1.3 million while serving as their financial advisor.

Under deal, the state will recommend that Hunsinger be sentenced to three to five years in state prison and that his insurance producer license be suspended for a period of five years.

Hunsinger has agreed to execute a consent judgment in the amount of $1,354,496 in favor of his parents.

“For years, the victims in this case believed that their son was investing money on their behalf,” said Acting State Attorney General John Hoffman. “Instead, he was siphoning their money for his own benefit.  The manner in which this defendant robbed his parents out of more than a million dollars is as offensive as it is reprehensible.”

Hunsinger admited that he systematically transferred approximately $1,354,496 from certain accounts that he was managing for his parents, without their authorization, to his personal accounts and used the money for his own personal living expenses. An investigation by the Office of the Insurance Fraud Prosecutor determined that, as a result of the unauthorized transfers, Hunsinger’s parents were left with little money in their accounts.

“This office will continue to prosecute cases such as this one and protect victims, even when, as in this case, the perpetrator is the victims’ son,” said Acting Insurance Fraud Prosecutor Ronald Chillemi.