Espada Jr., an extra ordinary person in the New York State Senate, has been indicted by a grand jury. The indictments also were made against his son, Pedro Gautier Espada. Both are being charged with embezzling from a nonprofit foundation. Another person who could have saved a lot of trouble by just applying for a payday loan.
Both Pedro Espadas charged
The NY Times explained that the charitable health care network founded by the Espada family had been having funds embezzled by each Espada Jr. and Pedro Gautier Espada. The older Espada, 57, a Bronx Democrat, founded Soundview HealthCare Network in 1978. Health services are provided to low-income families with Soundview which is a nonprofit network of health clinics. The Espadas allegedly made off with more than $500,000 of Soundview’s money. The Soundview cash was spent supposedly by the Espadas for pony rides and a petting zoo. This was all for family birthday parties. It’s expected that the Older Espada wanted a Bentley. He drew $49,000 from Soundview for a down payment on the car. Improvements on his home and about $100,000 in food was spent on business credit cards for his own personal use.
Authorities unhappy
There are complications within the case that involves the Espadas who are charged with embezzling from a charitable corporation. This complication comes because federal subsidies and grants are regularly given to Soundview HealthCare Network. Over $1 million annually is given to Soundview. The United States Department of Health and Human Services sends the money. The company also receives millions in payments from Medicare and Medicaid programs for its services to those on government assistance.
Theft involved with six accusations
Each Espadas are being charged with theft and embezzlement. You will find five counts to be charged. They are also both indicted on one count of conspiring to steal federal funds, as the Soundview Network is a regular recipient of federal funding.
Articles cited
New York Times
cityroom.blogs.nytimes.com/2010/12/14/espada-charged-with-stealing-from-nonprofit/?partner=rss&emc=rss
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