A grand jury has simply indicted Pedro Espada Jr., an outgoing state senator in NY. Espada’s boy, Pedro Gautier Espada, was also served with the indictments. The charges concern alleged embezzling of funds from the nonprofit corporation the family runs. Someone else who might have conserved lots of difficulty by simply applying for a payday advance loan. Source of article – Pedro Espada charged with stealing from nonprofit foundation by MoneyBlogNewz.
Espada, older and the younger, charged
Pedro Espada Jr., and his boy Pedro Gautier Espada, are both indicted for embezzling from the nonprofit health care network the family founded, based on the NY Times. As a Bronx Democrat, the older Espada is now 57 years old. In 1978, he founded the Soundview HealthCare Network. Health services are provided to low-income families with Soundview which is a nonprofit network of health clinics. Supposedly, more than $500,000 of Soundview's cash was taken by the Espadas. The Soundview cash was spent supposedly by the Espadas for pony rides and a petting zoo. This was all for family birthday parties. It is expected that the Older Espada wanted a Bentley. He drew $49,000 from Soundview for a down payment on the car. He also used business charge cards for personal use. This included $100,000 in food and improvements to his home.
Upset government
Because Soundview HealthCare Network is getting federal subsidies and grants regularly, the Espadas' case for embezzling from a charitable organization has become more complicated. Over $1 million every year is given to Soundview. The United States Department of Health and Human Services sends the money. Also, Medicaid and Medicare programs are used at the business. That means millions more are being put to the company.
Theft involved with 6 charges
Five counts of theft and embezzling accused to each Espadas. The Soundview Network gets federal funds regularly. This means one other count of conspiring to steal federal funds has been added to the list.
Citations
New York Times
cityroom.blogs.nytimes.com/2010/12/14/espada-charged-with-stealing-from-nonprofit/?partner=rss&emc=rss
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