Ex-Councilman pleads guilty to money laundering

Former Far Hills Councilman Thomas Greenwald pleaded guilty today to charges that he conspired to launder about $700,000 from loansharking and illegal gambling and faces up to 25 years in prison. Greenwald admitted that he was introduced to two individuals who he believed to be involved in loansharking and illegal gambling activities. Greenwald later learned that they were undercover FBI agents.

His conviction is the latest to come out of the U.S. Attorney's Operation Bid Rig, the same investigation which has led to charges being filed against more than 18 officials in Monmouth and Ocean Counties over the last several years, including convictions of the former mayors of Asbury Park, Ocean Township, West Long Branch, Brick Township, Hazlet and Keyport as well as councilmen from Asbury Park, Neptune Township, Middletown and Long Branch.

Greenwald resigned from the Council in 2005, following his indictment.

Ex-Councilman pleads guilty to money laundering