A Rockville Centre financial planner was sentenced Wednesday to 3 1/3 to 10 years in prison for embezzling $1.8 million from two elderly women and two nonprofits that assists people with special needs.
Drew Morgan had pleaded guilty to grand larceny in March at Nassau County court.
“Stealing is always wrong, but stealing from seniors and special needs kids is especially despicable,” Acting Nassau County District Attorney Madeline Singas said.
Prosecutors said the 44-year-old man embezzled $1,159,953 from the Anchor Building Fund, Inc., a fund created by Camp A.N.C.H.O.R. (Answering the Needs of Citizens with Handicaps through Organized Recreation), while acting as its treasurer from February 2008 through January 2013.
Morgan, the principal of DKM Financial Corp. and owner of Rockstead Venture Capital LLC, also stole $130,558 from the Corporation for Socially and Exceptionally Challenged Kids, a nonprofit that raises money for Camp A.N.C.H.O.R. and Impact OASIS, between June 2010 and December 2012, authorities said.
He also stole $475,000 from two sisters, age 69 and 70, while working as their financial planner between 2008 and 2010, according to investigators.
Morgan used the stolen money 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 such as groceries and gasoline, prosecutors said. He was arrested on Oct. 2, 2013.
Judge Philip Grella also ordered Morgan to pay back $1.3 million to the nonprofits and his clients.