A retired NYPD Sergeant who went into the money transfer industry pleaded guilty yesterday to multiple counts of bank and wire fraud. Robert Egan, 65, of Bedford, admitted to stealing $50 million from various banks who used his company, Mt. Vernon Money Centers, to stock ATM's with cash. Egan was caught on tape admitting to taking $12 million from Webster Bank alone, in order to fund other aspects of his failing business. In addition to stocking thousands of ATM's, the company was used by universities and hospitals to help cash paychecks. He faces up to 15 years for the money fraud, and appeared as contrite as Frank Sobotka when he faced a similar situation: "I knew this was wrong. I justified it because I always thought I could make up the difference." more ›

[UPDATE BELOW] Councilman Larry Seabrook (D-Bronx) has reportedly been hit with a 13-count indictment on federal charges of money laundering, conspiracy to commit mail and wire fraud, mail and wire fraud, extortion, and receiving an unlawful gratuity. Insiders told the Times that the Democrat—who represents Wakefield, Co-op City, Edenwald, Williamsbridge and Baychester—is suspected of helping a boiler company obtain city contracts. more ›

The former manager of Columbia University's Pediatric Neurosciences Department of the Neurological Institute claims that he stole $180,000 from the school because his supervisor had been sexually abusing him. John Bzdil III, who pleaded guilty to wire fraud, spent $25,000 on his Poconos wedding and thousands on spa products; the Daily News reports, "Charges against Bzdil's estranged wife, Heather Brooke Rinehart, were dropped by prosecutors after Bzdil claimed she had nothing to do with the purchase of Bliss items like Mammoth Minty Scrub and Lovehandler." Bdzill, who faces 21-27 months in prison, told a judge, "Columbia was turning a blind eye and a deaf ear to the fact that I was being sexually abused by [the boss]. Subconsciously, I was trying to make them pay attention to my situation and protect me from [him]. I felt deep shame for what he was doing to me and my inability to make him stop." However, his old boss, Cesar Rodriguez, who used to be financial director in the department, denied the accusations and told the Post, "When you are desperate, you'll do whatever you have to." more ›

Raffaello Follieri, the Italian playboy-con man, pleaded guilty to wire fraud, money laundering and conspiracy yesterday, in a plea deal that will land him a minimum of five years and three months in prison. Follieri, who claimed to be a representative of the Vatican, would take investors' money and spend it on his extravagant lifestyle, which included a Trump Tower apartment and squiring his girlfriend, actress Anne Hathaway. The new news is how he agreed to surrender claim to jewelry "recovered" from Hathaway (here's a list) as well as "precious metals and jewelry" found in his Bronx storage unit. Also found among his belongings: A letter from a former Vatican secretary of state telling him to stop pretending to be affiliated with the Vatican. The Post described him as looking pale while the Times said he needed a haircut. more ›