West Islip man found guilty of grand larceny, money laundering in $8.4M private school scheme

David Ostrove took the money from the Schechter School of Long Island during the 11 years he served as its chief financial and technology officer.

News 12 Staff

Mar 13, 2024, 12:29 AM

Updated 38 days ago

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A West Islip man was found guilty Tuesday of grand larceny and money laundering for stealing over $8.4 million from the Schechter School of Long Island in Williston Park.
David Ostrove took the money from the private school during the 11 years he served as its chief financial and technology officer.
Prosecutors say Ostrove used the stolen funds to buy five homes on Fire Island, several cars and to pay his daughter’s college tuition.
He faces up to 25 years in prison when he is sentenced in April.


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