Manhattan District Attorney Cyrus R. Vance, Jr. today announced the conviction of LAWRENCE WHITE, 36, for stealing more than $500,000 from two previous employers through credit card fraud and phony vendor schemes. WHITE pleaded guilty in New York Supreme Court to two counts of Grand Larceny in the Second Degree and two counts of Falsifying Business Records in First Degree.
“As a company insider, this defendant cycled through company funds – abusing his access to corporate credit cards and knowledge of company finances – in an accelerated, money-grabbing scheme,” said District Attorney Vance. “I would like to thank my Office’s prosecutors for holding this defendant accountable for his thefts and hitting the brakes on his larcenous conduct.”
According to court documents, statements made on the record, and the defendant’s guilty plea, from approximately February 2015 to July 2016, WHITE was employed at Peloton, a high-tech stationary bicycle company, as Vice President of Finance. In that role, he supervised a team of accountants and finance professionals and managed accounts receivable and accounts payable for the company. While employed at Peloton, WHITE used two of the company’s corporate credit cards—which had been legitimately issued to him—to make unauthorized purchases for personal expenses. He also opened an American Express credit card in the company’s name without the company’s knowledge and used it to charge personal expenses such as food, alcohol, and personal travel to the company’s account. In addition, WHITE sent payments from the company to a fake vendor account that he had created, then transferred those funds into his personal checking account. In total, the defendant stole more than $400,000 from Peloton before leaving the company in July 2016.
Then, from approximately September 2016 to March 2017, WHITE was employed at Rocketrip, a business travel startup company, as Vice President of Finance. As in his previous role, he supervised a team of finance professionals and managed accounts receivable and accounts payable for the company. While employed at Rocketrip, WHITE sent payments from the company to the same fake vendor account that he had created while at Peloton and, again, transferred those funds into the same personal checking account. The defendant stole more than $110,000 from Rocketrip.
The matter was referred to the Manhattan District Attorney’s Office following Peloton’s internal review of its accounts, and an indictment was subsequently filed in New York Supreme Court on March 23, 2017. That same day, WHITE was apprehended at his Manhattan apartment.
Assistant D.A.s Ryan Greenbaum and Konstantin Yelisavetskiy handled the prosecution of the case under the supervision of Assistant D.A.s Jessica Lynn, Deputy Chief of Trial Bureau 50, and Warren Murray, Chief of Trial Bureau 50, as well as Executive Assistant D.A. John Irwin, Chief of the Trial Division. Assistant D.A. Anne Ternes, Deputy Chief of the Financial Frauds Bureau, also assisted with the prosecution of the case. Senior Rackets Investigator Behzad Ahdout provided valuable assistance with the case, as well as Supervising Senior Rackets Investigators Donato Siciliano and Anthony Santoro; Senior Rackets Investigators Richard Ramos and Matthew Dato; Rackets Investigators Angel Estremera and Samuel Morales; Technology Analyst Willliam Fowkes; Trial Preparation Assistant Simone Rivera; and Former Analyst Amanda Epstein.
D.A. Vance thanked Tax Auditors Nicole Gullo and Nicholas Capkovic of the New York State Department of Taxation and Finance for assisting with the case.
LAWRENCE WHITE, D.O.B. 10/12/1981
New York, NY
- Grand Larceny in the Second Degree, a class C felony, two counts
- Falsifying Business Records in the First Degree, a class E felony, two counts