CAMDEN, N.J. — Two former executives of a Westville security services company have been federally charged in connection with the alleged theft of funds entrusted to the company by a local bank, resulting in an estimated loss of approximately $9 million, according to the U.S. Attorney’s Office for the District of New Jersey.

Robert Cormier, 51, of Barrington, formerly chief operating officer of Erigere Rapidus Solutions, Inc. (ERS), is accused of embezzling at least $3 million. He faces charges including embezzlement by a bank agent, bank fraud, money laundering, income tax evasion, and failure to collect and pay payroll taxes.

Richard Eisler, 38, of Clementon, formerly ERS deputy director, is accused of embezzling at least $2 million. He is charged with embezzlement by a bank agent, money laundering, income tax evasion, and witness tampering.

According to the indictments, ERS entered into an agreement with a local bank in late 2019 to collect, count, transport, store, and deposit cash from the bank’s customers. The funds were kept in an ERS vault before being deposited at the Federal Reserve Bank of Philadelphia. The vault reportedly held between $1 million and $12 million on any given day. When the bank ended its relationship with ERS, more than $8 million was allegedly missing.

Prosecutors allege that between 2020 and 2022, Cormier used bank funds to cover company payroll, security equipment, business vehicles, and personal expenses—including home renovations, a deck, and a swimming pool.

Eisler allegedly used stolen funds to purchase luxury vehicles, including an Audi RS7, Audi R8, Porsche 911, trucks, a motorcycle, and a recreational vehicle. He is also accused of paying for wedding expenses, home repairs, and an automobile loan with the funds. During the investigation, Eisler allegedly attempted to persuade a witness to lie to federal agents.

Some of the most serious charges carry maximum penalties of up to 30 years in prison and fines of up to $1 million. Other charges involving money laundering, tax evasion, and witness tampering also carry substantial prison terms and financial penalties.

The investigation was conducted by the FBI, IRS Criminal Investigation, and the Camden County Prosecutor’s Office.

The charges and allegations contained in the indictments are accusations only. Cormier and Eisler are presumed innocent unless and until proven guilty in a court of law.