TRENTON, New Jersey — A former chief financial officer of a New York City-based brokerage firm is going from Wall Street to prison.
A federal judge in New Jersey on Thursday sentenced 43-year-old Greg Albanese of Manalapan to 33 months in prison for stealing $1 million from Needham & Co.
Prosecutors say Albanese admitted to orchestrating an elaborate false invoicing scheme over a 10-year period.
Prosecutors say he induced several vendors to submit fraudulent invoices. They say some services were never provided while others inflated the amount charged.