Nanuet Men Arrested for Fraud

According to the US Attorney’s office a Nanuet man was arrested for his alleged role in an embezzlement scheme at the insurance company he was a consultant with. US Attorney Preet Bharara stated on Tuesday morning that 51-year old Eugene Fallon of Nanuet allegedly helped James Shea, and executive at QBE, an Australian based insurance firm, steal $2.6 million from the company. Fallon was accused of accepting forged checks as fake consulting companies from January 2012 to December 2013 that had been falsely signed by Shea. Fallon then paid back nearly $1.8 million of the $2.6 million to Shea, keeping the remaining money for himself. Both men were charged with one count of wire fraud and one count conspiracy to commit wire fraud and face up to 20 years in prison. 

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