TRENTON, New Jersey — A former chief financial officer of a New York City-based brokerage firm has admitted to stealing money from the company.
New Jersey's U.S. attorney says Glen Albanese pleaded guilty Thursday to a charge of conspiring to steal $1 million from Needham & Co.
The 42-year-old Manalapan resident entered his plea in federal court in Trenton.
Prosecutors say Albanese admitted to orchestrating an elaborate false invoicing scheme over a 10-year period.
Prosecutors say he induced several vendors to submit fraudulent invoices. They say some services were never provided while others inflated the amount charged.
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