East Greenbush business owner accused of stealing $150K - NEWS10 ABC: Albany, New York News, Weather, Sports

East Greenbush business owner accused of stealing $150K in pensions


EAST GREENBUSH, NY – The owner of Capital Hydraulics in East Greenbush is accused of stealing from the company's pension fund.

Capital Hydraulics is formerly known as Albany Hydraulics, however the new owner neglected to change the signs.

Police say 31-year-old Shana O'Malley allegedly stole around $150,000 in pension funds owed to at least two employees.

One of the employees that has come forward has participated in the pension plan since 1977. The employees discovered the situation when they attempted to roll the pension plan over to a personal IRA.

O'Malley was charged with Grand Larceny 2nd Degree. She appeared in East Greenbush Town Court and was released on Probation Day-Reporting until she returns to court on June 21, 2012.

The investigation is continuing and additional charges are possible.

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