Albany, NY – John H. Eydeler, III stole pension benefits intended for his deceased mother. On October 12, 2016, Eydeler admitted to stealing pension payments from the New York State and Local Employees Retirement System.He was sentenced to a five-year term of probation and a financial judgment.
“My office has exposed more than $2.75 million in pension fraud in recent years, and we aggressively pursued prosecution in each case,” said State Comptroller Thomas P. DiNapoli. “If you’re stealing from the retirement system, we will track you down no matter where you live and make sure you pay it back.”
Eydeler concealed his mother’s death in 1998 from the New York State and Local Employees Retirement System. As a result, between October 1998 and January 2010, over $130,000 in pension benefits were deposited into a bank account in the name of Eydeler’s deceased mother. Eydeler then diverted these monies to himself by claiming to have power of attorney for his mother and writing checks to himself every month for over a decade. Eydeler altered his scheme to conceal the theft, and used the monies to prop up a small automotive repair business that he owned in Glendale, Arizona.
In August 2016, the Attorney General filed an indictment against Eydeler charging him with Grand Larceny in the Second Degree, a Class C felony. Eydeler pleaded guilty to the indictment on October 12, 2016.
“The New York pension fund cannot serve as a personal piggy bank for those looking to scam the system,” said Attorney General Schneiderman. “I will continue to work with Comptroller DiNapoli to protect our pension system and send a message that fraudsters who steal from the state will be punished.”