Prosecutors point to financial dispute in Colts Neck quadruple murder

November 30, 2018 - 11:40 am

COLTS NECK, N.J. (1010 WINS) -- Prosecutors in New Jersey say bad blood between two brothers over business finances led one of them to murder the other along with his wife and kids before setting fire to their Colts Neck mansion.

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Paul Caneiro, 51, is charged in the deaths of his brother Keith, his wife Jennifer, and their young son and daughter. Authorities say he shot and stabbed the victims before setting fire to their Colts Neck mansion, and set his own home ablaze to make it look like someone else had targeted the family.

(WABC via AP)

Monmouth County Prosecutor Christopher Gramiccioni says it all went down early last Tuesday morning. He said Caneiro shot his brother outside of his Colts Neck home then went inside and killed his brother's wife and children.

"We allege that Jennifer was shot and stabbed, and the two Caneiro children were repeatedly stabbed by knife," he said.

Gramiccioni said the brutal crime was driven by money.

"Stemming from his and the victim's joint business ventures that they owned and operated out of Asbury Park," he said.

Paul and Keith were the principals in two businesses, a computer systems company called Square One and a pest control business, both housed above a trendy cafe in Asbury Park. Workers in the area frequently saw Paul Caneiro there.

The New York Times reports the brothers had talked about ending their partnership.

The paper says Keith had been discussing bringing the partnership to an end and trying something new.

"He would just mention it to everyone," Ameet Chaudhury said, "He wanted to try something different."

(AP Photo/Noah K. Murray)

A family friend also said that Keith had been going on interviews, but there was no warning that things between the brothers had reached a crisis point.

Caneiro's attorneys say their client has insisted he is innocent.

"He has indicated that he would never engage in conduct which would cause harm to his brother, or his brother's family, and he intends to challenge the evidence that has been gathered by the prosecutor's office," attorney Robert Honecker said.

Honecker did not ask for bail, but said they saw no evidence of financial trouble, but stopped short of saying that someone else set the fires and committed the murders.

A viewing and funeral for the family will be held on Sunday in Holmdel.