Finance

NY Village Official Stole Over $100K

March 26, 2014
By Stephanie West

Albany, NY – A former official of the now-dissolved village of Altmar in Oswego County stole more than $117,000 in public funds. The New York State Police have arrested Margaret Bailey and charged her with felony counts of grand larceny and falsifying business records.

“This individual brazenly ripped off more than $100,000 from her community and nearly got away with it,” said DiNapoli. “She had keys to the cash register and went on a spending spree, even going as far as doubling her own salary without detection. This employee took full advantage of a system lacking proper financial controls.”
The misappropriation was discovered after town of Albion officials requested assistance with obtaining village financial information during the dissolution process in March 2013. The village, which had a population of 400 residents, was officially dissolved in June 2013.

The NYS Comptroller's investigation revealed that over a period of five years, Bailey used various village accounts to write $106,000 worth of checks to herself or to pay her personal obligations. In addition, Bailey pocketed more than $9,000 in cash from property tax payments, permit fees and the sale of a village vehicle and falsified village records in an effort to conceal her crimes.

March 25, 2014

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