Broker Pleads Guilty in NYC Charity Theft, Faces Up to 25 Years in Prison

December 13, 2013
Theft

An insurance brokerage owner has admitted to helping a longtime Jewish community leader steal more than $7 million from a prominent New York City charity has pleaded guilty to charges

The New York Times says Joseph Ross pleaded guilty Wednesday to grand larceny, money laundering and tax fraud. His attorney declined to comment. He faces a maximum sentence of 25 years in prison.

According to a criminal complaint, the scheme spanned two decades and targeted the Metropolitan New York Council on Jewish Poverty. Ross’s company, Century Coverage, provided services to the group.

The charity’s former CEO, William Rapfogel, was arrested in August on similar charges.

The arrests are the result of an ongoing investigation by the offices of the state attorney general and state comptroller.

 

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