A Rockville Centre man pleaded guilty last week to stealing more than $900,000 from a Great Neck couple, two title insurance companies and the state Department of Labor, according to a release from Nassau County District Attorney Kathleen Rice’s office.
Gerard Timoney, 55, pleaded guilty to two counts each of second- and third-degree grand larceny and faces anywhere from three to nine years in prison, according to the release.
“Mr. Timoney repeatedly abused the trust, not only of homeowners and companies, but of taxpayers who pay for benefits meant for those who lost their jobs due to no fault of their own,” Rice said. “These homeowners could have had their homes sold out from under them, and insurance companies could have faced even more losses due to the fraudulent actions of a thief who brazenly took advantage of those unfortunate enough to do business with him.”
Timoney, the former owner of the insurance company TitleGuard Land Services Inc., was arrested in September 2012 for stealing $870,000 meant for the recording of deeds and mortgages and recording fees for taxes, according to the release.
Audits conducted by Stewart Title Insurance Company and Commonwealth Land Title Insurance Company concluded that Timoney failed to pay the $870,000 in fees and taxes and used them for personal expenses, according to the DA’s office.
Timoney closed the company in June of 2010 as a result of the misconduct, according to the release.
Timoney was arrested again on Feb. 6 for stealing $37,504 from a Great Neck couple trying to pay property taxes on an Astoria, Queens property, according to the release.
The couple obtained refinancing on the Queens property in May 2010.
At the closing of the deal, all parties involved in the transaction agreed that the $37,504 would be applied to payment of New York City real estate taxes by TitleGuard on behalf of the couple, according to the release.
The couple discovered in September of that year that the taxes were not paid, according to the release. TitleGuard had gone out of business by that time and the couple filed a complaint with Rice’s office.
After Timoney closed TitleGuard, he applied for unemployment insurance in July 2010, according to the release, and was denied.
Timoney appealed the ruling in November of that same year and neglected to mention his company had been closed due to criminal misconduct, according to the release, and received more than $30,000 in unemployment benefits.
The state Department of Labor alerted Rice’s office that Timoney would not be able to receive those benefits, due to his company’s misconduct, according to the release.
Timoney is scheduled to be sentenced on April 4.
