Ousted CEO hoarded cash from insurance overpayments, says AG.
William Rapfogel, the former head of one of the city’s most prominent social service agencies who was fired amid allegations of financial misconduct surrendered to the police on Tuesday, and will be face charges including grand larceny and money laundering, authorities said.
The scheme ensnaring the Metropolitan Council on Jewish Poverty may have spanned as long as two decades and involved millions of dollars, according to court papers. Rapfogel's compensation at the organization was about $417,000.
An investigator working for the attorney general, in the criminal comlaint, says he recovered more than $400,000 in cash from Rapfogel that was kept in his homes on three dates in August.
Rapfogel, 58, long one of the city's best known charity executives, was released from the First Precinct in Lower Manhattan after posting $100,000 in bail, according to a spokesman for state Attorney General Eric Schneiderman, who investgated the case. Rapfogel surrendered his passport after Judge Kevin McGrath ordered him not to leave the state.