David Cohen, the former CEO of the Municipal Council for Jewish Poverty and the organization 'Hatzala', pleaded guilty today (Wednesday) to charges of theft, money laundering, bribery, and a massive fraud of approximately $9 million from insurance companies.
A press release issued by the New York State Attorney General's Office said that Cohen, 70, admitted to also accepting $650,000 in bribes and payments for personal expenses.
Cohen, who is expected to be sentenced to four and a half years in prison, will be sentenced on July 9.
Want more news, videos and stories? Join the Haredim 10 WhatsApp channel >>
Cohen resigned from his position as CEO of Hatzala in September 2013, following accusations and suspicions of fraud.
Cohen's partner in the fraud, too, William Rapfogel, He admitted that he helped steal the money from the insurance companies.
Rapfogel faces a sentence, if convicted, of between three and 10 years in prison.
