Accountant Pleads Guilty to Stealing More Than $1.1 Million from Lake Success Client

Rubenoff funneled money through daughter’s college fund; Faces nine years in prison

MINEOLA – Nassau County District Attorney Kathleen Rice announced today that Steven Rubenoff, an accountant working with Lake Success-based firm DV Capital LP, has pleaded guilty to stealing $1.16 million from the company, and then funneling the money through his daughter’s college fund to finance a drug and gambling problem.

Rubenoff, 47, of Nyack, N.Y., pleaded guilty late Thursday afternoon in Nassau County Court to Grand Larceny in the First Degree. Judge Edward Maron is expected to sentence Rubenoff August 27. He faces up to nine years in prison.

Rice said that between Jan. 23, 2007 and Feb. 7, 2008, Rubenoff made numerous unauthorized transfers, ranging from $50,000 to $90,000, from DV Capital LP into his daughter’s college fund. He then moved the money into an account controlled by Rubenoff and Associates LLC, a tax and consulting service he owns.

Rice added that Rubenoff also made false entries to the business ledger to show withdrawals for personal expenses by those that actually controlled the account.

“Mr. Rubenoff betrayed the trust of his employer, and will now face the consequences,” Rice said. “My office takes corporate crime very seriously, and we were fully prepared to take this case to trial before Mr. Rubenoff decided to take responsibility for his actions.”

Assistant District Attorney Megan Gallagher of the DA’s Government and Consumer Frauds Bureau is handling the case for the District Attorney’s Office.Rubenoff is being represented by William Kephart, Esq.