Former managing director of N.J. elderly housing facility admits embezzling over $500K,

The former managing director of a Bergen County elderly and disabled housing facility admitted this week that she embezzled more than $500,000, authorities said.

From January 2017 through December 2021, Elaine Benanti, 69, of Garfield, held that title at Lydecker Manor in Maywood, according to a statement from the U.S. Attorney’s Office District of New Jersey. Lydecker Manor is a residential facility with approximately 136 units that provides housing for individuals over 62 or with disabilities.

Her responsibilities included supervising Lydecker employees, providing information to the U.S. Department of Housing and Urban Development and paying Lydecker Manor’s bills, the office said. HUD provided significant funding for Lydecker Manor.

Benanti was also tasked with issuing salary and bonus checks to herself and at least four other Lydecker employees. The amounts were set by the company’s board of trustees.

In federal court Tuesday, she admitted that she issued salary checks that significantly exceeded the amounts the board approved on an annual basis, including checks to herself and four other employees, investigators said.

For example, Benanti admitted that, in 2021, she issued salary payments to herself exceeding her approved annual salary of $132,613 by more than $40,000, and that she inflated her approved bonus for the prior year by more than $2,500, federal prosecutors said.

She also admitted that she issued salary, bonus, and retirement account checks that exceeded board-approved amounts for four other employees from 2017 through 2021, officials said.

Finally, she admitted that she issued a supplemental insurance payment to a relative who was not employed by Lydecker Manor, the office said.

In total, Benanti admitted to embezzling approximately $544,289 from the facility and as part of her plea agreement, she agreed to forfeit this amount, authorities said.

Benanti’s attorney could not immediately be reached for comment Friday night.