MANHATTAN (CN) – The director and president of a nonprofit that provides low income housing in the Bronx face federal charges of embezzlement. Prosecutors say Richard Izquierdo Arroyo and Margarita Villegas stole from the SBCC Management Corp., which runs the Judge Gilbert Ramirez and the Carmen Parsons Building.
Arroyo had been president of the organization since 2005, and Villegas a director since 2001.
According to the complaint, the two were subaccount holders of an American Express Business Platinum Account from June 2002 to August 2008. They allegedly charged about $180,000 in personal expenses. Prosecutors say the two ran up bills at restaurants and hotels, for airfare and car rentals, books and music, furniture and houseware, and clothing and accessories.
Arroyo and Villegas made large contributions to a New York State Assembly Member and a New York City Council Member, who accepted gifts such as office flooring and tickets to Puerto Rico from the nonprofit, according to the complaint.
Embezzlement is punishable by up to 10 years in prison.