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Man Stole $4.5 Million From Columbia University, DA Says

By DNAinfo Staff on November 29, 2010 2:34pm  | Updated on November 29, 2010 4:59pm

A man added an unauthorized account to Columbia's electronic payment system and allegedly stole $4.5 million.
A man added an unauthorized account to Columbia's electronic payment system and allegedly stole $4.5 million.
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DNAinfo/Mariel S. Clark

By Jordan Heller

DNAinfo Reporter/Producer

MANHATTAN — A Bronx man was arrested for stealing millions of dollars from Columbia University, the Manhattan District Attorney's Office said.

George Castro, 48, who was described in the criminal complaint as someone "familiar with the university's accounts payable system," allegedly added a new, unauthorized account to Columbia's electronic payment system in October and funnelled more than $4.5 million away from the university, according to court documents. 

The account was in the name of "IT Security Solutions LLC," of which Castro was the only name on the account.

Castro was arrested in his Bronx home on Wednesday, where he was allegedly found with $200,000 cash in a bag and a brand new $80,000 Audi parked out front, according to the criminal complaint.

Upon arrest, Castro told investigators that the money just appeared in his account, prosecutors said.

Castro is charged with one count of grand larceny in the first degree and one count of criminal possession of stolen property in the first degree.

A spokesman for Columbia University said they could not comment because the investigation was ongoing.