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Deceptive Business Deal Leads to Arrest of Putnam Valley Man on Grand Larceny Charges
Putnam County Sheriff Donald B. Smith reports the arrest of a Putnam Valley man on Grand Larceny charges. On October 11, 2007, a Putnam County contractor contacted the Sheriffs Office and reported that in 2006, he entered into a business agreement with 36-yearold Ronald Espinosa of White Hill Road, Putnam Valley.
According to the complainant, in September of 2006, Mr. Espinosa approached him and arranged to use his American Express credit card to finance $45,209 worth of expenses to complete various projects. As part of this agreement, Mr. Espinosa reportedly agreed to repay the entire amount he borrowed once he received payment resulting from another business deal he had with a Westchester County contractor. It was later discovered that Mr. Espinosa deceived the Putnam businessman when it was determined that, in fact, he did not have any such business agreement with the purported Westchester County contracting firm.
In an effort to make restitution to the owner of the credit card, Mr. Espinosa then approached a Westchester County businessman and borrowed $20,000 under the guise of paying a portion of the American Express debt. After receiving the money, Mr. Espinosa allegedly told the owner of the credit card that he had made a $20,000 payment to American Express, when in fact he did not do so.When Mr. Espinosa was approached about the nonpayment in December of 2006, Mr. Espinosa issued two checks to the complainant; one for $20,000 and one for $2,209. These checks were presented to a banking institution and were rejected for payment on two separate occasions.
Investigator Vincent Martin of the Sheriff's Bureau of Criminal Investigation investigated the complaints. As a result of his investigation and after consultation with members of the Putnarn County District Attorney's Office, Ronald Espinosa was arrested on a warrant issued by Putnam Valley Town Justice Louis DiCarlo. Mr. Espinosa was charged with Grand Larceny in the Third Degree, a class "D" felony. He was arraigned before Justice DiCarlo and initially remanded to the Putnam County Correctional Facility in lieu of $50,000 cash bail or $250,000 secured bond.
On October 23, 2007, Mr. Espinosa was released without bail pending further court action. A conviction of Grand Larceny in the Third Degree may be punishable by a period of imprisonment in a New York State correctional facility for a term not to exceed seven years. The investigation is continuing and further criminal charges may be forthcoming.
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