DVC made "local news" in Hudson Valley - NY --- sort of - OH BOY!

[NandP]

You never know who your nieghbors are !

December 20, 2005

Guilty plea by banker
Court confession: she embezzled

By Oliver Mackson
Times Herald-Record
omackson@th-record.com
Albany - Karen Croizer of Woodstock admitted in court yesterday that she paid for some of the finer things in her life with stolen money.

Croizer, a 38-year-old former vice president at Rondout Savings Bank, pleaded guilty yesterday in U.S. District Court to embezzlement by a bank officer, admitting that she stole at least $431,177 from the bank between 1997 and 2005.

The money paid for a Mercedes, an SUV, credit card bills, tuition for her kids and a condo at Disney's Wilderness Lodge, according to court papers.

On April 18, federal prosecutors will ask a judge to sentence Croizer according to guidelines that suggest 33 to 41 months in prison. Her lawyer said he'll ask for probation. Croizer agreed yesterday to pay nearly $426,000 in restitution to the Hartford Underwriters Insurance Co., which covered most of the bank's losses, and $54,610 to the bank that wasn't covered by insurance.

If Croizer doesn't make good on the restitution by her sentencing date, the feds are prepared to seize her assets, including the Mercedes, the SUV, jewelry, a 1977 Citroen and the Disney time-share condo.

State police and the FBI began investigating Croizer several months ago after receiving an anonymous tip, said Assistant U.S. Attorney Tina E. Sciocchetti, who prosecuted the case.

An internal audit found that Croizer was a sophisticated thief, using six different methods to steal from the bank.

According to the federal complaint, Croizer overstated salary expenses on the bank's general ledger, created fake invoices, overstated the bank's disability expenses, cashed checks that were made out to a bank subsidiary, made fake entries to ledger accounts that appeared to be legit bank expenses, and used bank teller checks for her own expenses.

On April 19, after the bank received the results of the audit, Croizer resigned, ending a career that began in 1989.

Yesterday's plea ended months of negotiations between Croizer's lawyer, Daniel Gaffney of Kingston, and federal prosecutors. The plea had an impact on a blameless member of Croizer's family: Her husband, Kingston city police Sgt. Thierry Croizer, agreed to forfeit his share of a joint Rondout Savings Bank checking account as part of the restitution.

"He's not a target of my investigation, and he has been cooperative." Sciocchetti said.

Gaffney said, "We're going to make full restitution before the end of this calendar year. The bank will not be out a single cent, nor will the company that did the audit."

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[littlestar]

Wow. That's really something.

 

[bullpup12564]

Maybe the price has increased since she bought it and she could make a few bucks on the sale! I know its sick but true.

 

[gppnj]

Sounds like a VWL contract will soon be coming available.

 

[robinb]

Maybe the price has increased since she bought it and she could make a few bucks on the sale! I know its sick but true.

 

[spiceycat]

'Yesterday's plea ended months of negotiations between Croizer's lawyer, Daniel Gaffney of Kingston, and federal prosecutors. The plea had an impact on a blameless member of Croizer's family: Her husband, Kingston city police Sgt. Thierry Croizer, agreed to forfeit his share of a joint Rondout Savings Bank checking account as part of the restitution. '

oh yea - she is spending all this money and he doesn't know anything.....

 

[Cinderpals]

Can you imagine how that husband feels? Yeeks! Wonder if she posted on the boards!

 

[IndianaDVCMember]

Sounds like a VWL contract will soon be coming available.

The story didn't even disclose their use year!

 

[crazywig]

The story didn't even disclose their use year!

 

[LIFERBABE]

I went through something very similar with a co-worker earlier this year. She wasnt a DVCer, but I helped her plan a trip to WDW at the Poly and also helped her pick tile in their brand new custom home. Her Dh is now serving 3-5 and she lost her $90k a yr job. Their family has been torn apart as they were raising their children (2 Boys, 1 from each previous marriage) as brothers.

Don't be envious of what people have, because you never know what they did to get it.

 

[manning]

I went through something very similar with a co-worker earlier this year. She wasnt a DVCer, but I helped her plan a trip to WDW at the Poly and also helped her pick tile in their brand new custom home. Her Dh is now serving 3-5 and she lost her $90k a yr job. Their family has been torn apart as they were raising their children (2 Boys, 1 from each previous marriage) as brothers.

Don't be envious of what people have, because you never know what they did to get it.

Why did she lose her job? Was she an innocent party or part of the scheme and pleaded out?

 

[DisFlan]

Her husband, Kingston city police Sgt. Thierry Croizer, agreed to forfeit his share of a joint Rondout Savings Bank checking account as part of the restitution. '

Her husband is a POLICEMAN? And he never once wondered where stuff like a Mercedes came from? Geeeeezzz.

Sounds like the old Pink Panther movie - when Peter Sellers is asked how his wife can afford to wear a $50,000 sable coat on a policeman's salary. He shrugged and replied, "She is very thrifty with her household account."

DisFlan

 

[LIFERBABE]

Why did she lose her job? Was she an innocent party or part of the scheme and pleaded out?

She actually turned him in, but not soon enough to walk away totally unscathed. The new Hemi she was driving and the Tiki hut (authentic) out by the zero entry pool in the backyard didnt help her "innocent" spouse defense either. She was so inspired by their stay at the Poly, she put the Poly in their backyard!

I honestly don't know how involved she was, but it took a loooong stay at WDW for me to come out of my funk about the whole thing.

When I am really better, I am going to write a Tell-All book! Until then, I sleep with 1 eye open

 

[aDVCguy]

Hey, she was in banking right?...Wonder if she
got a break on the mortgage rates?
Professional courtesy,right?

 

[cobbler]

Wow, thats a shame. And what a black X for her husband.

 

[Lisa F]

ummm... I think this person tried to rent points from me once. At least the name sounds VERY familiar. She was trying to plan a big disney vacation and was buying into VWL and needed 50 extra points... I was gong to transfer them to her after she closed on her resale contract. The contract she was trying to buy was because someone was going through a divorce and they changed their mind at the last minute, so the transaction fellt hrough. I THINK that was her! I knew when I saw the name that she owned at VWL at least. I got rid of my old emails about it so I can't check for sure but it clicked when I read the name!

I'm a little creeped out now!

Of course if someone is reading this and remembers trying to do the above transaction with me, I'm sorry for confusing you with this woman! I honestly can't figure out why else her name sounds SO familiar to me.

 

[manning]

She actually turned him in, but not soon enough to walk away totally unscathed. The new Hemi she was driving and the Tiki hut (authentic) out by the zero entry pool in the backyard didnt help her "innocent" spouse defense either. She was so inspired by their stay at the Poly, she put the Poly in their backyard!

I honestly don't know how involved she was, but it took a loooong stay at WDW for me to come out of my funk about the whole thing.

When I am really better, I am going to write a Tell-All book! Until then, I sleep with 1 eye open

Sounds like he had a girl friend and got caught. Willing to take the spoils but not share!

 

[mbw12]

Don't be envious of what people have, because you never know what they did to get it.

Isn't that the truth!!!!!!! and you never know what is going on behind closed doors!

 

[canwegosoon]

I'm glad she got caught...sorry for the kids if there are any. But I saw a Dr friend of ours pay the price for his stealing secretary. He ended up loosing a very good pratice, and he and his wife went through all types of ..LL because of this selfish woman....they had no idea. They couldn't face most of their friends. Many people thought they knew...but she was keeping 2 sets of books, they had no idea, she was hiding all cash.

Her DH should have known...in my house there's a phone call on pay day to my DH when there is .01 more than there should be. So I hope there is more VWL points up for sale!!!

 

[canwegosoon]

That's almost 60,000 a year...where do they think all this extra money comes from. Their stocks didn't do that well. And just because they can afford to pay the bank back doesn't mean she should not do jail time. She deprived the bank of that money, and any profits they could have made on it.