COLTS NECK — The man accused of killing his brother and brother's family, then setting their Colts Neck home on fire faces now faces an additional charge of insurance fraud.

Paul Caneiro was indicted earlier this year on four counts of first-degree murder, two counts of felony murder and other charges in the November death of Keith and Jennifer Caneiro, their 8-year-old daughter Sophia, and their 11-year-old son Jesse, who were all found dead at their Colts Neck mansion on Nov. 20 after a multi-alarm fire broke out.

Monmouth County Prosecutor Christopher J. Gramiccioni has said Caneiro repeatedly shot his brother outside his home just before Thanksgiving. Inside, he shot and stabbed his sister-in-law and stabbed his niece and nephew, investigators say. Authorities allege he then set the Colts Neck fire before returning to his own home.

Paul Caneiro also used gasoline to set his own Ocean Township home on fire as his wife and children slept inside, according to authorities. Paul Caneiro's immediate family survived that blaze, which authorities say was a diversion from the overall crime.

Gramiccioni earlier said Paul Caneiro, who ran a computer security firm and a pest management company with his slain brother, was motivated financially but initially declined to elaborate. But his earlier indictment also included charges of second-degree misapplication of entrusted property, in addition to weapons, arson and hindering charges.

A Monmouth County grand jury handed up an indictment on the new fraud charge but Gramiccioni did not disclose details about the reasons for it. It carries a penalty of up to a decade in prison.

According to the affidavit in the case, an office manager said that the two brothers had been arguing for the past year over money. Keith Caneiro discovered that money was missing from the business and he stopped payment to his brother's wife until it could be located, the affidavit says. Keith was also frustrated with the amount of the business' money that Paul spent, it says.

The earlier indictment indicates that Paul Caneiro was entrusted $78,180 in cash that was "purposely or knowingly applying or disposing of property that was entrusted to them" in an unlawful fashion."

Paul Caneiro has pleaded not guilty. His next scheduled court appearance is set for July 29. He remains detained at the Monmouth County Correctional Institution in Freehold Township.

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