Former Chief Executive Of Chemung County Business Sentenced To Serve Two To Six Years In Prison For Grand Larceny
ALBANY, NY (January 11, 2007)—Attorney General Andrew M. Cuomo today announced the sentencing of a former chief executive of a Horseheads, New York building company, after he pled guilty to stealing $210,000 from a resident of Wisconsin.
Richard J. O’Marra, 59, of Seneca Castle, New York, was formerly the head of Nu Castle Industries, a business that manufactured Fibrocrete wall panels for building construction. On June 13, 2006, O’Marra pled guilty to Grand Larceny in the Third Degree, a class D felony.
As part of his plea, O’Marra admitted that he stole $210,000 from Robert Nelson of Wisconsin. O’Marra had told Nelson that his money was going to be used for a real estate purchase in Livonia, New York. Instead, O’Marra used the money to buy out a founding partner of Nu Castle Industries, and for other Nu Castle expenses.
On January 3, 2007, the Honorable Joan Kohout in Livingston County Court sentenced O’Marra to serve two to six years in prison. The judge also directed O’Marra to pay $350,000 in restitution.
“This defendant broke the law by deceiving and stealing from his own investors,” Cuomo said. “We will continue to hold businesses and their executives accountable for defrauding investors, and will seek restitution to compensate victims whenever possible.”
The restitution will be distributed to Nelson and three other individuals who were similarly mislead by being told their investments would be used to purchase property. Since his plea, O’Marra has paid $10,000.
O’Marra was represented by Marcea Clark of the Livingston County Public Defender’s Office.
The case was prosecuted by Assistant Attorney General Nancy D. Snyder of the Criminal Prosecutions Bureau under the supervision of Bureau Chief Janet Cohn and Deputy Bureau Chief Viola Abbitt. The investigation was led by Investigator Mark Spencer.