A Rockville Centre man has admitted to embezzling nearly $1.3 million from two women and two nonprofits that raises funds to help children with special needs children.
Drew Morgan pleaded guilty Friday at Nassau County court to grand larceny. Judge Philip Grella is expected to sentence the 44-year-old man on May 22 to 3-1/3 to 10 years in prison and to order him pay full restitution to his victims.
“Drew Morgan used his position as treasurer and president of two nonprofit organizations to steal money that should have been used to enrich the lives of children and adults with special needs,” Acting Nassau County District Attorney Madeline Singas said.
Prosecutors said he embezzled $1,086,453 from the Anchor Building Fund, Inc. while acting as its treasurer of the not-for-profit corporation that runs Camp A.N.C.H.O.R., which is short for Answering the Needs of Citizens with Handicaps through Organized Recreation—a program serves children and adults with special needs—between 2008 and 2013
He also stole $130,558 more between June 2010 and December 2012 from the Corporation for the Social and Exceptionally Challenged Kids, a nonprofit that raised funds for Camp A.N.C.H.O.R. and Impact OASIS, a group that promotes the acceptance and inclusion of people autism.
Investigators uncovered the alleged thefts while examining Morgan’s bank records during a separate probe into allegations he stole $475,000 from two sisters that hired him as their financial planner as the principal of DKM Financial Corp. and owner of Rockstead Venture Capital LLC.
Prosecutors said that he spent the victims’ investment to pay for a membership in the Hempstead Golf Club, airline travel and hotel stays, restaurants, credit and debit card purchases, appliances, home furnishings and personal expenses between 2008 and 2010.
Morgan was arrested on Oct. 2, 2013.