By Stephen Bronner
A Rockville Centre man was arrested Wednesday for allegedly stealing more than $1.6 million from two non-profit organizations that raise money for special needs children and two women for whom he acted as financial planner, the Nassau County district attorney announced.
Drew Morgan, 42, was arrested by DA Investigators and charged with first-degree grand larceny and three counts of second-degree grand larceny. He faces up to 25 years in prison if convicted.
From February 2008 through January 2013, Morgan allegedly embezzled $1,086,453 from the Anchor Building Fund, Inc. while acting as its treasurer and a board member, according to District Attorney Kathleen Rice. He allegedly used his position to withdraw cash from the fund’s accounts without authorization. Anchor Program Fund, Inc., is the not-for-profit corporation that runs Camp A.N.C.H.O.R. (Answering the Needs of Citizens with Handicaps through Organized Recreation) in conjunction with the Town of Hempstead, which serves children and adults with special needs.
Morgan allegedly stole an additional $130,558 between June 2010 and December 2012 from the Corporation for the Social and Exceptionally Challenged Kids, a non-profit corporation that was created to raise money for Camp A.N.C.H.O.R. and Impact OASIS. Morgan served as the corporation’s president and treasurer when he allegedly withdrew money from the corporation’s accounts without authorization. Impact OASIS is an organization that promotes the acceptance and inclusion of autistic individuals by establishing farming centers to promote healthy employment, housing, and community interaction.
“This defendant lived the high life at the expense of some of our community’s most vulnerable members,” Rice said. “Mr. Morgan was trusted to enrich the lives of children and adults with special needs who rely on these charities for socialization, recreation, and an improvement to their quality of life. In the end, however, he revealed himself to be little more than a con man.”
The two alleged thefts were uncovered by DA Investigators while they were examining Morgan’s bank records during a separate investigation into the alleged theft of $475,000 from two sisters for whom Morgan was working as a financial planner. Morgan, the principal of DKM Financial Corp. and owner of Rockstead Venture Capital LLC, is charged with stealing $250,000 that was supposed to be invested for a client between October 2008 and January 2010, as well as $225,000 that was supposed to be invested for her sister between April 2008 and January 2010. In both cases, Morgan allegedly kept the money for himself.
The Rockville Centre resident allegedly used the stolen money to pay for a membership in the Hempstead Golf Club, airline travel and hotel stays, restaurants, credit and debit card purchases, appliances, home furnishings and personal expenses such as groceries and gasoline.