Defendant Stole Pension Benefits Issued To His Deceased Mother And Is Expected To Be Sentenced To 1 Year In Jail, Already Paid $150,000 In Restitution, And Will Sign A $124,987 Judgment
ALBANY – Attorney General Eric T. Schneiderman and New York State Comptroller Thomas P. DiNapoli today announced that Marc A. Eletz, 70, a resident of Boca Raton, Florida, pleaded guilty today to the crime of Grand Larceny in the Third Degree, a class D felony, in Albany County Court. The plea stems from charges that Mr. Eletz stole over $275,000 in New York State pension benefits that were issued to his deceased mother.
“Theft from our state’s pension system is detrimental to all New York taxpayers and robs retirees who rely on their hard-earned pensions,” said Attorney General Schneiderman. “Through our Operation Integrity partnership, Comptroller DiNapoli and I will continue working tirelessly to root out and prosecute those who commit pension fraud, and protect taxpayer dollars.”
“Mr. Eletz concealed his mother’s death to pocket her pension,” said State Comptroller DiNapoli. “We uncovered the theft and tracked him down, which led to today’s plea and our recovery of nearly $275,000 in stolen funds. I thank Attorney General Schneiderman for partnering with us to find and prosecute those who steal public retirement funds."
Eletz admitted to stealing pension benefits from the New York State and Local Employees Retirement System payable to his deceased mother, Fay Eletz. According to the Comptroller and the Attorney General, Eletz’s father, Milton Eletz, was a New York State pensioner who elected to receive reduced monthly benefits so his wife, Fay Eletz, would continue to receive benefits after his death in 1988. From 1992 until July 2014, these benefits were deposited into a joint account held by the defendant and his mother. After his mother died in April 2001, Eletz continued to receive these benefits until July 31, 2014, totaling $276,721.24. Eletz accessed these funds from the joint account and liquidated all but $1,801.08 of the pension benefits over that time period.
Eletz pleaded guilty today before Judge Peter Lynch in Albany County Court and paid $150,000 in restitution. On November 5, Eletz is expected to be sentenced to 1 year in jail and will sign a confession of judgment in favor of New York State for an additional $124,987.
This case is the latest joint investigation under the Operation Integrity partnership between the Attorney General and Comptroller, which has resulted in dozens of convictions and more than $6 million in restitution.
This joint investigation was conducted with the Comptroller’s Division of Investigations.
The Attorney General’s investigation was conducted by Investigators Barbara Butler and Mitchell Paurowski and Deputy Chief Antoine Karam. The Investigations Bureau is led by Chief Dominick Zarrella.
This case is being prosecuted by Assistant Attorney General Philip V. Apruzzese of the Criminal Enforcement and Financial Crimes Bureau. The Criminal Enforcement and Financial Crimes Bureau is led by Bureau Chief Gary T. Fishman and Deputy Bureau Chiefs Stephanie Swenton and Meryl Lutsky. The Division of Criminal Justice is led by Executive Deputy Attorney General Kelly Donovan.