An electrical contracting company in New York lost more than four million dollars when its former chief financial officer stole company money and splurged funds on crack cocaine.
Kevin Stevens, 62, of Cohoes relied on company fuel and fleet cards to purchase gift cards that were swapped for crack along with unauthorized checks and falsified records, reports CBS6 Albany.
Investigators determined the total stolen reached exactly $4,206,269 between early 2017 and early 2025 at A.E. Rosen Electrical Co., Inc., a firm founded in 1977 that employs over 100 workers across upstate New York.
Stevens joined the business in 2015 and previously held controller positions at other New York companies for more than two decades.
Prosecutors described the company as a mom-and-pop operation and called the case the largest grand larceny matter ever handled by the Albany County District Attorney’s Office.
Stevens also submitted the owner’s personal details on fraudulent forms and created false ledgers sent to the firm’s accountants to hide the activity.
Authorities arrested him in January of 2026 following a New York State Police investigation, and he later pleaded guilty to first-degree grand larceny and first-degree identity theft.
On Wednesday, a judge imposed a sentence of four to 12 years in state prison along with an order for full repayment to the business.
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