Columbia Is Hit With $4 Million Bank Fraud
November 30, 2010
Total Loss:
$4.8 million
A 48-year-old Bronx man has been arrested and charged with grand larceny for allegedly stealing nearly $4.5 million from Columbia University over the course of two months, authorities said Monday. George Castro is accused of adding a TD Bank account belonging to him as a payee in the Columbia University Medical Center's accounts payable system, netting payments of $3.4 million in October and $1 million in November, authorities said. Mr. Castro, whose relationship with the university is unclear, was arrested Wednesday.
Source:
Wall Street Journal
Posted in:
ACH and Wire Fraud