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A 58-year-old Irvington woman was indicted February 17 for embezzling more than $40 million since 2002 from union employee benefit funds she administered. She spent the money on horses, jewelry, vacations, cars, clothing and the mortgage on her village home, among other things.

Melissa G. King was charged in Manhattan federal court with one count of theft and embezzlement in connection with approximately $42 million she transferred from three Sandhogs’ Union accounts to bank accounts she controlled, and 11 counts of money laundering.

If convicted, King, who is currently free on $10 million bail, could face a maximum prison sentence of five years on the embezzlement count and 115 years for the 10 money laundering counts, along with a fine of $250,000.  more »