Former CFO Sentenced After Stealing $4.2 Million From Employer

Kevin Stevens, a 62 year old former CFO, has been sentenced to four to 12 years in state prison for stealing over $4.2 million from his employer. The theft took place at A.E. Rosen Electrical Co. in New York, a company that has operated since 1977. Investigators found that Stevens spent the funds on crack cocaine over an eight year period starting in 2017.

To cover his tracks, Stevens manipulated company records and used unauthorized checks along with fuel cards to create gift cards. He even went as far as using the owner's personal information on fraudulent forms to deceive company accountants. The Albany County District Attorney characterized this as the largest grand larceny case the office has ever managed.

Following his arrest in early 2026, Stevens pleaded guilty to charges of first degree grand larceny and identity theft. Beyond his prison sentence, the judge ordered him to pay back the full amount stolen from the firm. This case serves as a harsh reminder of the importance of internal financial oversight, even for long standing family businesses.