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Two contractors arrested for stealing $500,000
SCHENECTADY -- Two contractors were arrested and charged with billing clients for more than $500,000 worth of work that was never performed, and materials that were not delivered.
49-year-old Frank Corradi or Glenville and 62-year-old Timothy Larned of Schenectady were arrested following an investigation between the Schenectady Police Department, The New York State Police, and the Schenectady County District Attorney's Office.
The Schenectady Police Department reports that Corradi, who was employed by Plank Construction Services as a supervisor, was actually hiring a shell company to overcharge his employer. Police said that the bills were paid to Rex Earth, LLC, which an investigation showed diverted the funds back to Corradi and others.
Police said that their investigation also uncovered false billing by William M. Larned and Sons owner Timothy Larned for tens of thousands of dollars.
Corradi was charged with 11 counts of 3rd Degree Grand Larceny, two counts of 4th Degree Grand Larceny, Money Laundering, and Falsifying Business Records.
Larned was charged with 3rd Degree Grand Larceny, Money Laundering, and Falsifying Business Records.
Police said that additional charges are expected.