CEO Of An Albany Area Business Accused Of Stealing Pension Fund
The CEO of Capital Hydraulics, formerly Albany Hydraulics, in East Greenbush has been charged with grand larceny in the second degree, by the East Greenbush Police.
According to a press release by the East Greenbush Police Department, 31-year-old Shana M. O’Malley was charged for allegedly withdrawing about $150,000 from a couple of employees’ pension funds.
The situation was discovered when one of the employees tried to roll their pension plan over to an IRA. One of the workers participated in the pension plan since 1977.
O’Malley appeared in East Greenbush Town Court. She was released on Probation Day-Reporting, and is scheduled to be back in court on June 21. There is still an ongoing investigation, and more charges are possible.