As a Certified Fraud Examiner, Salvatore Armao knew he was in no position to do anything but plead guilty. That’s why he did just that. Last Thursday, August 2, Armao, founder and managing partner of a Long Island, N.Y.-based accounting firm, Armao LLP, pleaded guilty in U.S. District Court for the Southern District of New York to falsifying financial records filed with the Department of Labor to conceal a scheme by an unnamed labor union president to embezzle more than $100,000 over a number of years from a related benefit plan. Armao and a principal officer of his firm, Karen Auer, had been charged on June 1 with aiding and abetting the thefts. Auer, to no surprise, pleaded guilty on August 3. The actions follow a probe by the FBI, and the Labor Department’s Office of Inspector General and Employee Benefits Security Administration.
According to prosecutors, the unnamed president of … Read More ➡