Accountant Gets 2 ½ - 7 ½ Years in Prison for $4M Law Firm Theft

Rice: Galasso lived in the ‘lap of luxury’ on brother’s law firm’s dime

MINEOLA, NY – Nassau County District Attorney Kathleen Rice announced today that Anthony Galasso has been sentenced to 2 ½ to 7 ½ years in prison for embezzling more than $4.3 million dollars from his employer, a Garden City law firm where his brother serves as partner and Galasso worked as a bookkeeper.

Galasso, 54, of West Babylon, pleaded guilty on Feb. 28 to 22 counts, including Grand Larceny in the First Degree, Falsifying Business Records in the First Degree, and Criminal Possession of a Forged Instrument in the Second Degree. An internal investigation by the law firm led to his January 2007 arrest.

Rice said that the embezzlement from Galasso, Langione & Botter occurred during a more than two-year span that began in June 2004 and ended in January 2007. During that time, Galasso used his position as the firm’s financial record keeper to siphon money from various firm accounts including an escrow account set up for one of its clients.  Rice said that the defendant spent the money on private jets to Atlantic City and other casinos, on payments for a 2007 Mercedes Benz E350, and on a $16,000 stay for his family at the Ritz Carlton Hotel in New York City.

Rice said Galasso also purchased more than $200,000 worth of concert and sporting event tickets to shows like Barbara Streisand, The Lion King, Jimmy Buffet and Robin Williams. Rice said the defendant purchased tickets to the 2005 Big East Men’s Basketball Tournament, a Yankees vs. Red Sox game, and a 2006 Mets National League Championship Series game. In addition, Rice said the defendant paid his son’s New York University tuition, made extensive improvements to his West Babylon home, and took his family on a Disney World vacation with the money.

“Mr. Galasso will now face the consequences of living in the lap of luxury while someone else signed the bills,” Rice said. “Hopefully he will spend his incarceration thinking of how to right the wrongs he committed against his employer, and sadly, his brother.”

Galasso, Langione & Botter specializes in “Personal Injury, Medical Malpractice, Matrimonial, Estates & Trusts, and Commercial Litigation.” The escrow account used in this case was set up for a client who had recently sold a commercial property for more than $4.5 million dollars. This money was placed in Escrow based on the firm’s belief that it could become the subject of an eventual divorce settlement. The loss to the Escrow account as a result of this theft is thought to be approximately $4,351,571.04.

Assistant District Attorney Bill Jorgenson, of the DA’s Government & Consumer Frauds Bureau, is handling the case for the District Attorney’s Office, assisted by Deputy Bureau Chief William J. Wallace.  Mr. Galasso is being represented by Thomas Liotti, Esq., of Garden City.