WNYT.com

Former head of local business admits embezzlement

Posted at: 01/25/2013 3:31 PM
Updated at: 01/25/2013 5:38 PM
By: WNYT Staff

EAST GREENBUSH - The former head of a local business now admits she raided her company's pension fund.

Shana O'Malley admitted in court today to stealing more than $90,000 from Capital Hydraulics in East Greenbush.

Police were alerted to the missing money after two employees were unable to roll their pensions over into an IRA.

As part of her punishment, O'Malley will spend 5 years on probation and pay as much as $2,000 per month in restitution.