Albany County District Attorney Lee C. Kindlon announced today that a 62-year-old Cohoes man has admitted to stealing more than $4 million from his employer, A.E. Rosen Electrical Co., Inc. in what is the largest grand larceny case ever prosecuted by the Office.

Kevin Stevens pleaded guilty Tuesday morning in front of the Honorable Christopher Maier to Grand Larceny in the First Degree and Identity Theft in the First Degree.

Starting in January 2017, Stevens, Chief Financial Officer at the company, began using the company’s fuel/fleet cards to make unauthorized purchases of gift cards in various dollar amounts. He then exchanged these gift cards for crack cocaine.\

Stevens also issued himself checks from the company’s accounts to obtain funds he was not authorized or entitled to receive. In addition, the defendant also submitted the personal information of the company’s owner on fraudulent financial forms to mask his use of the fleet cards.

To further conceal his embezzlement, Stevens created and submitted false ledgers and financial reports to the company’s accounting firm. The accounting firm would issue annual financial statements based on these false reports.

An investigation by New York State Police determined that his criminal actions resulted in the theft of funds from A.E. Rosen totaling $4,206,269 during a period from 1/24/17 to 1/23/25.

Stevens was released to the supervision of probation with an electronic monitoring device. He will be sentenced on Sept. 9, when he faces a state-prison term of four to 12 years and will be ordered to pay full restitution to the company.

Assistant District Attorney Matt Peluso, Bureau Chief of the Financial Crimes Bureau, is prosecuting the case.