Gregory Bayard, Embezzlement, New York 2023
Grimy Times has learned that Gregory Bayard, a 58-year-old man from Scotch Plains, New Jersey, pleaded guilty to embezzling $1.4 million from a decedent’s estate in White Plains federal court. Bayard was a court-appointed administrator of the estate, which was located in Mt. Vernon, New York.
According to the allegations, Bayard embezzled the funds between 2009 and 2016, using the money for personal expenses such as home renovations, college tuition, and other personal expenses. He also transferred some of the money to family members.
The charge of wire fraud carries a maximum sentence of 20 years in prison, and Bayard faces significant prison time for his crimes. As a fiduciary of the estate, Bayard had a duty to protect the assets and ensure that the rightful beneficiaries received their inheritance.
The case highlights the need for proper checks and balances to mitigate the risk of theft. Inspectors caught Bayard with his hand in the cookie jar, as he was using the estate’s funds for his own lavish lifestyle.
Grimy Times has learned that the case is being handled by the Office’s White Plains Division, and Assistant United States Attorney James McMahon is in charge of the prosecution.
Gregory Bayard, 58, of Scotch Plains, New Jersey, pled guilty to one count of wire fraud. He faces significant prison time for his crimes.
This is the second individual charged in trying to allegedly exploit the estate identified as part of the joint investigation. New York State Comptroller Thomas P. DiNapoli thanked U.S. Attorney Geoffrey S. Berman and the U.S. Postal Inspection Service for their collaboration on the case.
Key Facts
- State: New York
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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