Employee theft costs businesses across the United States over $50 billion each year. When you are running a business in a small town in upstate New York, you may not expect to be effected by such theft. That is a wrong assumption.

107.7 WGNA logo
Get our free mobile app

Crime happens everywhere and people like Nicolas E. Argetsinger are waiting to find their next victim. New York State Troopers arrested Argetsinger on Wednesday, as a result of a fraud investigation.

Office worker puts a wad of money in his pocket
Getty Images/iStockphoto
loading...

According to a report by Rylee Kirk of syracuse.com, Nicholas E. Argetsinger, of Waterloo,NY, has an alias. The report said that the man is also known as Kirk B. Piersma, of Phoenix, Arizona. The alias was not the crime. Argetsinger somehow redirected $1.8 million from his employer in Geneva to his bank account. The scam enabled Argetsinger to grab over $544,000 over three years, according to a release by the New York State Troopers.

Close-up Of An Arrested Businessman Hand Holding Dollars Bill For Bribe
Getty Images/iStockphoto
loading...

The discrepancy was noticed by the unidentified employer, who in turn began a fraud investigation. Troopers said that following the findings of the inquiry, Argetsinger was arrested and charged with first-degree scheme to defraud, three counts of second-degree grand larceny, and three counts of first-degree falsifying business records. This was not Argetsinger's first run in with the law. The report in syracuse.com said that previously, Argetsinger was working under the name Kirk B. Piersma as a licensed real estate broker in Arizona. In 2013, the State of Arizona ordered that Piersma's (Argetsinger's) license be revoked for violations of state real estate law. In 2011, the state had suspended his license for property management irregularities.

Getty Images
Getty Images
loading...

New York State Troopers arrested Nicholas E. Argetsinger in Waterloo. He was taken to Ontario County Jail for arraignment and will have a future court date in Geneva.

Look Who Has Played the New York State Fair

Here's a look back at some of the artists that have played the Great New York State Fair. Concert Archives

Look! Mansion w/Breathtaking Views of Lake George Sold for $4.2 Million

This three-story mansion is a 7100 sq ft custom home on Lake George. There are granite floors throughout along with 7 bedrooms all with views of Lake George. Gorgeous floor-to-ceiling windows from all rooms allow for breathtaking views of Lake George. There are over 100 feet of direct lakefront complete with a sandy beach. There is a custom stone patio, propane firepit, boathouse, and deck. Check it out!

The Capital Region's 30 Best Outdoor Restaurants

When it comes to having an outdoor cocktail or meal in the 518, these are the best of the best to enjoy the great outdoors this spring and summer.

More From 107.7 WGNA