Glen W. Albanese, a former chief financial officer at the brokerage firm Needham & Co., was charged with stealing $1 million to spend on wine, trips, decorating and a designer breed of dog known as a labradoodle.
Albanese, 41, stole from the New York-based company from 2000 to December 2010 by directing vendors to submit phony invoices, according to a Federal Bureau of Investigation arrest complaint. He told one vendor to give him envelopes of cash, while others paid his personal expenses, according to the FBI.
Albanese, of Manalapan, New Jersey, spent the proceeds on thousands of dollars of wine as well as interior decorating and landscaping services, equestrian equipment, and more than $40,000 in flights, hotels and travel, the FBI said. The expenses included a fence for the labradoodle, according to Matthew Reilly, a spokesman for New Jersey U.S. Attorney Paul Fishman.
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