Thursday, December 18, 2014

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Police: Local company scammed out of $500,000

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SCHENECTADY, N.Y. – A half a million dollars; that's how much money police say was scammed out of a local company in Schenectady.

Police say an employee of the company knowingly hired a fake construction group called Rex Earth LLC and billed his employer hundreds of thousands of dollars for work and materials that didn't exist.

Police say the Frank Corradi was arrested for authorizing the bills.

Officers say some of that money was then funneled back to Corradi.

Timothy Larned was also arrested.

Police say he create false bills for tens of thousands of dollars for his own construction company.

Both were charged with grand larceny, money laundering and falsifying business records.

Police say they are still looking into the case and expect more charges. ClientIP:, UserAgent: CCBot/2.0 ( Profile: TWCSAMLSP