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Monday, dec 16
News
Westchester Hedge Fund Manager Sentenced For $22M Ponzi Scheme
A former hedge fund manager from Northern Westchester will spend nearly a decade behind bars after defrauding 45 investors out of more than $22 million through an elaborate Ponzi scheme that allowed him to live a lavish lifestyle. Michael Scronic of Pound Ridge, the former manager of the Scronic Macro Fund has been sentenced to 96 months in prison, Geoffrey Berman, the United States Attorney for the Southern District of New York, announced on Thursday. Scronic was also sentenced to three years of supervised release and must pay $22,026,427 in restitution to his victims. Scronic, 46, admitte…
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Ex-Comptroller Sentenced In White Plains For Embezzling $2.5 Million
The former comptroller of a pair of prominent Hudson Valley companies is going to spend some time behind bars after stealing millions of dollars from his employer to fund gambling and a lush lifestyle. Mark Cina, the former comptroller of two Poughkeepsie companies, was sentenced to 41 months in prison for mail fraud and tax evasion in White Plains Federal Court. He pleaded guilty to the charges in April. Cina, 56, must also pay $3,385,665 in restitution and forfeit a total of $2,254,820. In 2008, Cina was hired by an entrepreneur to act as a part-time bookkeeper for his company. Two years …
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Hudson Valley Accountant Sentenced, Ordered To Pay $600K
A Rockland County accountant admitted in White Plains federal court to his role in a multi-million dollar deception scheme is heading to prison and must pay $600,000 in restitution to his victims. Mitchell Klein, 62, has been sentenced to three years in federal prison and must pay the restitution for not reporting a theft from his real estate company, which was connected to the scheme involving his investors, family and friends. In total, more than 100 clients lost investments with Klein and his former business partners, who in total lost more than $60 million in real estate projects and ve…
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Ex-School Secretary Sentenced For Stealing Funds From Tarrytown District
A longtime Tarrytown Union Free School District secretary and Putnam County resident has been sentenced to probation and must pay restitution after stealing more than $10,000 from her employer. Lake Peekskill resident Carol Ressa, 54, has been sentenced to five years probation in Westchester County Court, and ordered to finish paying restitution of the balance due to the school district, $2,929.56, during her first 12 months of probation. Ressa pleaded guilty in February to third-degree grand larceny as a public corruption crime, a felony. She was also ordered to pay a total of $10,000 in r…
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Hudson Valley Contractor Admits To Defrauding Customers Of $175,000
An area contractor is facing potential prison time and his corporation has agreed to pay back $175,000 for defrauding property owners who hired him to construct homes on their property. Goshen resident Charles Neustadt, 63, and JC Builders, Inc. pleaded guilty to felonies this week in Orange County Court. Neustadt pleaded guilty to third-degree grand larceny and theft of services. His business pleaded guilty to felony charges of grand larceny and scheme to defraud. As part of the plea agreement, Neustadt has agreed to pay back $175,000 and it has been recommended by the Orange County Distri…
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Ex-Westchester Schools Director Heads To Federal Prison For Bribery Scheme
A former New Rochelle Schools Director who was implicated in a corruption scheme is heading to federal prison following sentencing at the United States Courthouse in White Plains. Last year, John Gallagher Jr. pleaded guilty to bribery for his role in a four-year corruption scheme while he was an independent contractor working with the New Rochelle School District. He faced up to four years in prison and must pay thousands in fines. Gallagher was originally scheduled to be sentenced last month, but that got pushed to Wednesday, where a judge sentenced him to a term of four years in federal …
News
Fatal Stabbing Of 16-Year-Old Girl Tops Week's Westchester News
WESTCHESTER COUNTY, N.Y. -- The 16-year-old suspect accused of fatally stabbing another girl, a New Rochelle High School junior Valaree Megan Schwab, on Wednesday, has surrendered to police. Click here to read the story. Some others top stories of the week include (Click on the link to read the entire story): A Westchester County business owner is seeking $90 million in restitution from Dunkin’ Donuts, claiming that the franchise irreparably damaged his concession stand at the Westchester County Airport. Wegmans, the popular grocery chain known for its massive stores and food courts, is cl…
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