HAUPPAUGE, NY (CBSNewYork) - A Long Island man is accused of stealing hundreds of thousands of dollars in a 401(k) scam.
WCBS 880′s Sophia Hall On The Story
The Suffolk County district attorney said Friday that Om Soni lived the ‘Life of Riley’ using other people’s retirement funds.
“He bought a Bentley. He bought a high-end Mercedes-Benz. He has a special edition Porsche, another Bentley, a Lamborghini,” said D.A. Thomas Spota.
Spota said Soni lives in a $4 million home on Bel Air Court in Oyster Bay.
Spota said between 2007 and 2009, when Soni was the CEO of Sonix Medical Resources in Hauppauge, he stole nearly $300,000 from his employees.
180 people thought their money was going into a 401(k) retirement plans, but Spota said it was really going into Soni’s pockets.
The company is currently in bankruptcy.
Soni is charged with 2nd degree grand larceny and scheming to defraud in the 1st degree.
In total, he the alleged larceny was $278,000.