Upstate New York CFO Accused In Shocking $4 Million Scheme

New York State Police say a trusted company executive secretly stole millions over several years.

Now he's facing a long list of felony charges.

Cohoes, New York Man Arrested By New York State Police

An Upstate New York man is accused of a shocking $4 million embezzlement scheme

New York State Police announced on Friday that 60-year-old Kevin J. Stevens of Cohoes was arrested for allegedly stealing $4 million from his job.

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According to police, Stevens ran an embezzlement scheme between September 1, 2019, and February 4, 2025, while serving as Chief Financial Officer of A.E. Rosen Electrical Company in Albany, New York.

This resulted in his company losing $4 million. Stevens was let go from the company before his arrest.

Many Charges Filed By New York Stae Police

The New York State Police Special Investigations Unit (SIU) Financial Crimes Unit worked with the New York State Police Troop G Bureau of Criminal Investigation and the New York State Police in Latham, New York, to arrest Stevens.

He was charged with:

• Grand Larceny 1st Degree (Class B felony)
• Identity Theft 1st Degree
• Conspiracy 4th Degree
• Falsifying Business Records 1st Degree
• Forgery 2nd Degree

Stevens was arraigned in Albany City Court and ordered held on $50,000 cash or $100,000 bond. The Albany County District Attorney’s Office is prosecuting the case.

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