West Palm Beach developer Michael McCloskey’s CFO admitted to embezzling more than $300,000 to maintain his gambling addiction, according to police.
Neil Reisman forged McCloskey’s signature on at least 155 checks made out to “cash” over a 14-month period, and spent the funds at the Seminole Casino Coconut Creek, the Palm Beach Post reported, citing a West Palm Beach police report.
Reisman, 60, of Boynton Beach was arrested and charged Sunday with grand theft of more than $100,000. He remained at the Palm Beach County Jail, with his bail set at $15,000, according to the newspaper.
After McCloskey, CEO of FRI Investors, discovered the check forging, Reisman provided a written and videotaped confession admitting to his gambling addiction. He was fired but the company helped him get treatment, according to the Palm Beach Post.