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| Charges Filed In University Fraud Case |
| By online.wsj.com |
| Published: 11/30/2010 |
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A 48-year-old Bronx man has been arrested and charged with grand larceny for allegedly stealing nearly $4.5 million from Columbia University over the course of two months, authorities said Monday. George Castro is accused of adding a TD Bank account belonging to him as a payee in the Columbia University Medical Center's accounts payable system, netting payments of $3.4 million in October and $1 million in November, authorities said. Mr. Castro, whose relationship with the university is unclear, was arrested Wednesday. A law-enforcement official familiar with the case said Mr. Castro had $200,000 in cash in his possession when he was arrested and had withdrawn $140,000 the day before his arrest. According to a criminal complaint, Mr. Castro told investigators the money "just appeared" in his bank account and that he had gotten "greedy." He allegedly admitted to buying an $80,000 Audi with the money, along with other undisclosed purchases, the complaint stated. The Audi, which was parked in front of his Admiral Lane residence in the Clason Point section of the Bronx, was seized by authorities. Read More. |
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