Wednesday, March 4, 2009
2 Finance Execs At New York Company Charged With Embezzling $600K
Craig M. Stram, 46, of Yonkers, New York and the chief financial officer of Genergy, Inc. in Kent Lakes, New York and Christopher Papatheododrou, 30, and vice president of finance and accounting for Genergy, have been charged with embezzling some $600,000 from the company. According to prosecutors, Stram (pictured here) and Papatheododrou effected the transfer of funds from payroll accounts to their own personal accounts. The scam, which was discovered after other executives realized a dramatic decrease in cash flow, lasted only six months, ending last month.
Read the story here.