CFO Charged with Stealing $429K from Dunkin’ Franchise

LONG ISLAND, N.Y. – The former chief financial officer of a Dunkin' Donuts master franchise has been charged with stealing nearly a half-million dollars from it, according to an announcement today by Kathleen Rice of the Nassau County district attorney's office.

The former CFO of the master franchise of 56 doughnut shops is accused of using company cash to finance trips, car payments, gift cards and payments to two girlfriends he had hired as consultants.

Christopher Cortese, 54, was employed by Kainos Partners as its chief financial officer from May 2005 until he was terminated in February of 2009 after the firm discovered financial irregularities, including $53,500 for a home office, $60,000 in gift cards, and more than $100,000 in trips, meals, and other expenses.

The former CFO is accused of funneling $110,000 to one woman for information technology services that the district attorney says was never performed. Cortese is also alleged to have used company funds to pay for the first Mercedes Benz lease payment for the woman. He also secured company health and dental benefits for her, despite her not being a company employee. The other girlfriend received $20,000 for services never performed.

"The level of this defendant's deception, arrogance and sheer greed is shocking," said District Attorney Rice.

Cortese, who resides in Rockville Centre, New York, has been charged with second degree grand larceny, and could face up to 15 years in prison if convicted. He is due back in court April 6.

Attorney Alex Bateman, who handles white collar crime at the law firm of Ruskin Moscou Faltischek, emphasizes the presumed innocence of his client. "Cortese pleaded not guilty. The judge released him on his own recognizance," he points out.

Assistant District Attorney Megan Gallagher of the Nassau County District Attorney's Government & Consumer Frauds Bureau is handling the case for the District Attorney's office.