Ex-CFO at Needham & Co. Charged with Theft

Glen Albanese allegedly stole $1 mln from the brokerage over a decade.

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.

World Series

“Albanese wrote on the ticket broker’s invoice that he attended the World Series game with three other individuals,” the Finra report said. “Albanese’s attendance at the World Series game with the individuals listed on the invoice was not a legitimate business expense.”

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