Dutchess County Man Charged With Embezzling $7 Million
Christopher Canale of Poughkeepsie was charged on Wednesday.
According to a press release from the United States Attorney for the Southern District of New York, Canale has been charged with wire fraud, bank fraud, and aggravated identity theft for allegedly using his position at a global financial services firm to defraud the buisness out of at least $7 million over a thirteen-year period.
The attoenrys are claiming that from 2003 to September 2016, while working as an accounts payable manager, Canale used his employer’s bank accounts as his own, stealing millions to pay for personal expenses, including an outdoor pool, vacations, and luxury cars.
Canale is also accused of paying bills for a credit card account and sending around $40,000 in wire transfers to another individual.
Christopher Canale, 47, of Poughkeepsie, has been charged with one count of wire fraud, which carries a maximum sentence of 20 years in prison and a maximum fine of $250,000, one count of bank fraud, which carries a maximum sentence of 30 years in prison and a maximum fine of $1 million. He is also charged with one count of aggravated identity theft, which carries a mandatory consecutive sentence of two years in prison and a maximum fine of $250,000.
Canale is due back in court at a later date.