RIVERHEAD, N.Y. – A former New York lawmaker has been convicted of grand larceny and insurance fraud involving the reconstruction of his Long Island home.
But the jury acquitted George Guldi on Wednesday of a forgery charge following the five-week trial. He was remanded to the county jail after the judge set cash bail at $500,000 or $1 million bond. He faces up to 15 years in prison.
Prosecutors say Guldi stole $853,000 paid by his insurance carrier to be held in escrow to reconstruct his home, which had been destroyed by fire in 2008. During the trial, Guldi said he did not know how the check ended up in his bank account.
Guldi represented Westhampton Beach in the Suffolk County Legislature from 1995 to 2003.