Street Wize News ( Raw &Unkutt )

Over the past few years Americans have seen their fare share of corruption amongst politicians and financiers alike, but the way Senator Pedro Espada and his son tricked off public funds is just plain coonery.
Between 2005 and 2009, Espada and his son used the Soundview Health Center, which received about a $1 million a year in federal funds alone, as their personal piggy bank, the indictment charged, echoing The Post’s revelations.

* Espada and his family charged $100,000 on Soundview’s corporate American Express card for pricey meals in restaurants across Westchester, Broadway shows like “Mamma Mia,” “Jersey Boys” and “Mary Poppins,” Yankees and Mets tickets and Kenny G and NE-YO concerts.
* Espada’s son rigged a Soundview contract bid so his family-owned janitorial company would win it at an inflated price, as The Post first disclosed.
* The two used the for-profit janitorial firm, Comprehensive Community Development Corp., to pay for his campaign headquarters, political mailers and even pony rides and a petting zoo outing for a family member’s birthday party.
* Espada attempted to use a $49,000 check from the Development Corporation to make a down payment on a new Bentley. When his financing was denied because the dealership considered him too risky, he used the corporation’s money to pay a credit-repair firm to improve his score.

To make matters worse this fool is trying to actually FIGHT these claims saying he and his son are innocent of any wrong-doing. Yeah, ok homie, let us know how that “innocent” routine works out for you.


Kris Alingod - AHN News Contributor
Brooklyn, NY, United States (AHN) - Seven months after being charged by the New York attorney general, state Sen. Pedro Espada has been indicted by a federal grand jury for embezzling half a million dollars from a charity. The lawmaker allegedly used funds intended for Bronx clinics to pay for campaign expenses, Broadway tickets and expensive meals for family members.


Espada, 57, and his son, Pedro Gautier Espada, were charged with five counts of embezzlement and one count of conspiracy. They were to make their first court appearance Wednesday afternoon.

Both are accused of stealing funds from Soundview, a non-profit healthcare organization that receives more than $1 million annually in federal funds from the U.S. Health Department to help operate a network of clinics in the Bronx.

The elder Espada founded Soundview in 1978. He currently serves as president and chief executive officer of the charitable organization.

The lawmaker and his son allegedly diverted more than $500,000 worth of income and assets of Soundview meant for poor constituents needing medical assistance. The indictment alleges the men used the money to cover personal and political expenses.

According to federal prosecutors, the senator used the charity's American Express card to pay for more than $100,000 in personal meals for himself and his family, window treatments for his home, and tickets to games and Broadway shows.

He also created a janitorial services company headed by his son, who allegedly rigged bids to ensure that the company won a contract worth at least $400,000 annually from Soundview.

In addition, the father and son are accused of using the janitorial company to divert
divert funds from Soundview, and then using the funds to pay for rent for the senator's campaign office and for pony rides during a family member's birthday party.

The majority leader in the state Senate, he also tried to use $49,000 worth of funds as a down payment for a Bentley.

Earlier this year, the New York state attorney general filed a civil lawsuit against Espada and 19 current and former officers and directors of Soundview for similar accusations of looting the charity of public funds.

According to the lawsuit, $80,000 in non-profit funds were used to pay for 650 meals for Espada and his supporters, including more than $20,000 from two sushi restaurants that regularly delivered to the senator's home in Mamaroneck.

Soundview failed to pay $700,000 in federal payroll taxes in 2008 but paid for Espada's credit card charges, including $250,000 in personal expenses, because of a directive to pay the senator and his family "before any other vendor or financial obligation."

None of the former and current officers named in the lawsuit, such as Kenneth Brennan, was named in the federal indictment. The suit had accused Brennan of approving the siphoning of funds as chief financial officer of Soundview.

Espada had dismissed the lawsuit as "political payback" for his role in a 2009 Republican coup that kept the state government at a near-standstill. He has not issued a statement on the indictments against him and his son.

The senator and his son face up to 10 years in prison on each count of embezzlement and five years for conspiracy. They may be fined $250,000 for each count on conviction.