$260K Stolen From Capital Region Victim's Bank Account By Power Of Attorney, Police Say

A man from the region tasked with looking after the finances of another is facing charges after allegedly stealing hundreds of thousands of dollars from them.

A 65-year-old Saratoga Springs man tasked with looking after the finances of another is accused of stealing hundreds of thousands of dollars from them.
Photo Credit: *Canva/Photosbyandy*

Michael Mashburn

04/19/2023 9:00 a.m.

Saratoga County resident Ivan Gerdwagen, age 65, of Saratoga Springs, was arrested Sunday, April 16, following an investigation by New York State Police.

It came days after troopers were first contacted with a complaint that over $260,000 was missing from the victim’s bank account, according to police.

Investigators determined that Gerdwagen, who was acting as the victim’s power of attorney, stole the money between August 2022 and January 2023, troopers said.

Gerdwagen was arrested on a single count of second-degree grand larceny, a felony.

He was taken to the Schenectady County jail to await arraignment.

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