VanVeghten used these stolen monies to replenish more than $1 million in funds that he had previously misappropriated from homebuyers in order to satisfy his outstanding business debts, to repay loans, and to pay his own personal expenses. VanVeghten also engaged subcontractors and suppliers for labor and materials for various construction projects, while failing to pay them.Īdditionally, over a three-year period, VanVeghten misappropriated almost $200,000 from a special needs trust established for the benefit of a disabled family member. However, instead of using these funds for designated projects, VanVeghten diverted the monies for personal use, as well as to pay off business expenses. During this time period, VanVeghten received monies from homebuyers that were intended to build their dream homes, as well as from a lender in connection with other property development projects. Subsequently, on December 8, 2020, VanVeghten was arraigned on the charges of Money Laundering and Scheme to Defraud, also before the Honorable Coseo in Wilton Town Court.Īs part of his guilty plea in December of 2020, VanVeghten admitted that, from at least July 2016 to May 2020, he engaged in a scheme to defraud homebuyers and others and laundered monies embezzled from these victims.
#MONIES IN A SENTENCE SERIES#
VanVeghten was arraigned in Wilton Town Court in September 2020 on a series of felony and misdemeanor complaints before the Honorable Matthew Coseo. The joint investigation revealed that VanVeghten engaged in a money laundering scheme aimed at promoting his businesses at the expense of homebuyers, business owners, a financial lender, and the beneficiary of a special needs trust.Īccording to the OAG’s felony complaint, VanVeghten laundered over $1 million through two construction companies he owned or operated - VanVeghten Construction, LLC and Union Modular Homes, LLC - both based in Wilton, New York. Today’s sentencing followed a conviction made possible by a joint investigation between the Office of the Attorney General (OAG) and the New York State Police’s (NYSP) Financial Crimes Unit, with assistance from the Saratoga County Sheriff’s Department and both the Saratoga County and Warren County District Attorneys’ Offices. We will simply not tolerate this type of reprehensible behavior.” “He promised to build dream homes for his victims, but instead he took more than a million dollars of their hard-earned money and used it for his own benefit. “I commend our members and the New York Attorney General’s Office for holding Shawn VanVeghten accountable for his crimes,” said Superintendent Bruen. I thank the New York State Police for its partnership in finally putting away this repeat offender.” New Yorkers can trust that I will protect their homes and their wallets from criminals seeking to take advantage of them. VanVeghten will spend the next several years with a jail cell as the only roof over his head. “Shawn VanVeghten defrauded more than $1 million from New Yorkers just to finance his own expenses.
#MONIES IN A SENTENCE FULL#
“New Yorkers spend their lives saving for their dream home, so those who steal only to leave our state’s residents struggling to keep a roof over their heads will see the full force of our office come down on them,” said Attorney General James. Murphy, III in Saratoga County Court, VanVeghten was sentenced on his convictions for Money Laundering in the Second Degree (a class C felony) and Scheme to Defraud in the First Degree (a class E felony) to 2 1/3 to 7 years in state prison.
VanVeghten’s multi-year scheme - that took place between 20 - left many homebuyers across upstate New York without the ability to get into their homes when promised, if at all. VanVeghten (39, of Saratoga Springs) for defrauding homebuyers, business owners, a financial lender, and the beneficiary of a special needs trust out of more than $1 million to finance his own personal and business expenses. Bruen today announced the sentencing of Shawn M. NEW YORK – New York Attorney General Letitia James and New York State Police Superintendent Kevin P. VanVeghten, Owner of Upstate Construction Companies That Defrauded Homebuyers Out of More Than $1 Million, Sentenced to 2 1/3 to 7 Years in Prison
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