By Shayna Jacobs
DNAinfo Reporter/Producer
MANHATTAN SUPREME COURT — A bookkeeper and her son allegedly stole $16 million over seven years from a pair of SoHo textile companies to pay for private jets, a yacht and other luxury expenses.
Judy Del Galdo, 66, and Joseph Del Galdo, 46, pleaded not guilty to grand larceny and money laundering charges in Manhattan Supreme Court during their arraignment on Friday. They were ordered held without bail.
The Del Galdos acted as "high-rolling entrepreneurs" at the expense of two local clothing businesses, Manhattan DA Cyrus Vance Jr. said, adding "the appearance of wealth and success was just a charade."
Judy Del Galdo, of New Jersey, worked at Hi-Fashion Fabrics, Inc., and Timeless Treasures Fabrics, Inc., both at 483 Broadway for 22 years, prosecutors said.
From August 2003 to April 2010, Judy Del Galdo allegedly funneled cash to shell companies operated by her son, she said. The younger Del Galdo lives in Georgia.
The pair allegedly used the stolen funds to spend nearly $1 million on private jet flights and hotel stays, put $368,000 toward a $1 million yacht, and buy tickets to sporting events at Madison Square Garden and the Meadowlands.
They also spent hundreds of thousands on tailored suits, Apple store purchases, and private school tuition, as well as home theater costs, the DA said.
The pair owned a $127,000 Mercedes S63 and a $55,000 Infiniti QX56, according to prosecutors.
The pair were arrested earlier this week, and were arraigned Friday.
They were ordered held without bail and are due to reappear in court on July 15 for a bail hearing.
