A Staten Island bar owner has been accused of stealing $1.4 million from the clothing business he worked for in order to finance his extravagant lifestyle and fund his bar, according to prosecutors. Glenn Jakers, a co-owner of “The G.O.A.T.” bar in Dongan Hills, allegedly diverted money from his job as a controller at Eric Javits, Inc., a Queens apparel company, to support the failed tavern and make personal purchases of luxury items such as Gucci and Louis Vuitton. Jakers, 61, has been charged with grand larceny, criminal possession of stolen property, and criminal possession of a forged instrument.
The history of the bar’s location on Richmond Road is quite colorful, with a previous version of the pub being featured on the reality show “Bar Rescue” before adopting its current name. The G.O.A.T. closed down in 2022 and has since been sold to new owners, according to State Liquor Authority records.
Prosecutors allege that Jakers began embezzling money in 2015 by writing checks to himself, with at least 150 unauthorized payments totaling nearly $1.4 million. He also allegedly transferred funds from the apparel company owner’s PayPal account to his own and redirected payroll funds to himself. The illicit funds were reportedly used for steakhouse dinners, purchases from Apple, Louis Vuitton, and Gucci, as well as ticket sales from StubHub and various other expenses.
Queens D.A. Melinda Katz stated, “We will not tolerate our businesses becoming targets of theft, whether at the retail level or by company employees.” Jakers was released without bail after his arraignment and has not yet responded to requests for comment.
The G.O.A.T., which is located at 1674 Richmond Rd., underwent a transformation after being featured on “Bar Rescue” in 2014. It was originally a dive bar called “Rhythm & Brews,” but was revamped into a wine-focused restaurant called “5th and Vine.” In 2018, Jakers and Chris Shaleesh became the new co-owners and rebranded the establishment as “The G.O.A.T.” However, the bar closed its doors in 2022 and has been replaced by Cypress Hall Social Haus.