Former Larchmont Exec Charged with Embezzling
27 Jan, 2014
By Loop Staff
The former CFO of Collins Brothers Moving in Larchmont is accused of embezzling up to $6 million in company funds and using it for a lavish lifestyle.
Gregg Pierleoni, 59, of New Fairfield, Conn., allegedly did this from 2006 to April 2013, when he left Collins Brothers after 26 years, by transferring funds from their operating account to other accounts held by the company. He is facing up to 40 years in prison if he is convicted.
According to the U.S. Southern District of New York Court, Pierleoni used the funds to pay for $70,000 worth of Thomas Kinkade artwork, sports memorabilia, more than $500,000 in coins from the New York Mint and more than $40,000 in jewelry. He also allegedly used the company’s funds to pay for his Connecticut income and property taxes.
According to reports, Pierleoni was asked to either step down or leave the company in April 2013 due to poor performance and, within two weeks of the company hiring a new financial officer, Pierleoni’s alleged thefts started to come to the surface.
He remains free on $750,000 bail. United States District Court in White Plains is handling the case.
photo: Collins Bros.