A former CFO at Albany-area electrical firm A.E. Rosen Electrical Co. has been charged in connection with an alleged multi-year embezzlement scheme that led to a more than $4 million loss for the company, according to New York State Police.
Kevin J. Stevens faces multiple felony charges, including first-degree grand larceny, identity theft, falsifying business records, forgery and conspiracy.
He was arraigned in Albany City Court and ordered held on $50,000 cash bail or $100,000 bond. The Albany County District Attorney’s Office is prosecuting the case, following an investigation led by the New York State Police Special Investigations Unit Financial Crimes Unit.
Neither the company nor prosecutors have publicly commented on the circumstances surrounding his departure, and it is not clear whether Stevens left voluntarily or was terminated. A.E. Rosen has not issued a public statement regarding the case. According to the Times Union, the Albany County District Attorney’s Office deferred questions to New York State Police, who declined to provide additional details.
According to his LinkedIn profile, Stevens joined the company in 2015 and was approaching a decade in the finance chief role this month. His tenure spans the full period during which authorities allege the embezzlement scheme occurred, from September 2019 through early February 2025.
As the case proceeds, additional details are expected to emerge regarding the alleged misuse of company funds and the financial oversight environment in place during Stevens’ tenure, including how the activity was ultimately detected and how long it may have gone unnoticed.
