Hempstead Town Councilman Ed Ambrosino arrested for wire fraud and tax evasion

Hempstead Town board member Edward Ambrosino was arrested today on eight counts of wire fraud, tax evasion, making and subscribing to false corporate tax returns, and failing to file a return or pay tax, according to an indictment released this morning by the United States Department of Justice.

Ambrosino, 52, a resident of North Valley Stream, diverted over $800,000 in revenue from his former employer, and failed to pay over $250,000 in federal tax, the indictment said.

A member of the Hempstead Town board since 2003, Ambrosino has been of “special counsel” to Nassau County Executive Ed Mangano since 2010, and “of counsel” to the law firm Ruskin Moscou Faltischek, based in Uniondale, an unidentified source said. Additionally, he incorporated a company, the Vanderbilt Consulting Group, Inc., and was its sole shareholder.

From 2013 through 2015, officials allege that Ambrosino diverted $800,000 of $1.3 million received in legal fees that he was required to provide to Ruskin Moscou Faltischek, and deposited them into the Vanderbilt bank account. The legal fees were paid by the Nassau County Industrial Development Agency and the Nassau County Local Economic Assistance Corporation, among other clients.

Read more: http://liherald.com/stories/hempstead-town-councilman-ed-ambrosino-arrested,89810