Wednesday, December 15, 2010

New York State Senator & Son Indicted On Charges They Misappropriated $500+K In Taxpayer Funds

New York State Senator, Democrat Pedro Espada, Jr., 57, of Mamaroneck, New York and his son, Pedro Gautier Espada, 37, were indicted yesterday on charges they misappropriated more than $500,000 in taxpayer funds. A federal grand jury indicted the two on five counts of embezzlement charges from a nonprofit health care network receiving federal funds and one count of conspiracy. The funds were allegedly siphoned out of Soundview Healthcare Center which Espada founded and which received more than $1 million in federal grant money each year. Authorities allege Espada and his son took funds from Soundview and applied them to other businesses they controlled. It has been reported that the skimmed monies went to support Espada's lavish lifestyle. According to U.S. Attorney Loretta Lynch, “The indictment alleges that funds that could and should have been applied to purchase medical equipment and enhance health-care services for an historically under-served population were diverted by the defendants for their personal use.”

Read the story here, here, here and here.

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