Palisades Park woman on trial for bank fraud, wire fraud, and tax evasion in Federal Court for Million dollar theft
A trial began in Federal Court this week for a Palisades Park woman who is charged with stealing nearly $1M from her employer which she used to finance personal vacations and luxury cars. For nearly a decade before she was fired in September 2011, the defendant was employed as a personal assistant to William R. Solomon of Citigroup. Mr. Solomon was a retired managing partner of Solomon Brothers which was subsequently purchased by Citigroup. This personal assistant was provided to Mr. Solomon as part of the merger between Citigroup and Solomon Brothers. Mr. Solomon did not monitor his personal assistant’s conduct with regards to his finances and she allegedly stole nearly $1M from his accounts over the decade that she worked for him. Mr. Solomon, now 98 years old, testified for the government in this case. He testified that he completely trusted her and felt betrayed when he uncovered her wrongdoing in 2011.
The defendant is charged with 10 counts, including bank fraud, wire fraud, money laundering, and tax evasion. The trial will continue this week. For additional information, please see the Bergen Record article.