RIVERSIDE, N.J. (KYW Newsradio) — A judge in Burlington County sentenced a developer from New York to pay hundreds of thousands of dollars in fines and give up ownership of a South Jersey historic building, after he pleaded guilty to fraud during its redevelopment.
Standing seven stories tall with an iconic clock tower, the Keystone Watch Case Company building in Riverside was being converted into 64 luxury apartments under the leadership of Brooklyn-based developer Raphael Weiss.
Prosecutor Scott Coffina said Weiss forged documents to get electrical permit approvals from the township, then used unlicensed workers to do the work which later failed inspection for safety violations.
Investigators said Weiss’ goal was to get the work done as cheaply as possible.
The story started to unravel when an electrician went to the township to get information about the job and learned 36 permits were filed with his name and signature without his knowledge.
Weiss was sentenced Friday to pay $670,000 in fines and relinquish ownership.
The Burlington County Prosecutor’s Office says the move will allow for a new developer to take over the project.
“We know how important the Keystone Watch Case Co. is to Riverside’s past, present and future, and look forward to seeing this beautiful building brought back to life, and the positive impact it will have on this community,” Coffina said.
The building housed the largest watch case manufacturer in the world before eventually shutting down in 1956. It was designated as a national historic site in 1977.
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