Former Vornado exec accused of embezzlement says REIT just had sour grapes

"Federal prosecutors allege that while working in Vornado's leasing department, Jared Solomon set up fake brokerages to fraudulently bill the REIT for more than $9.5 million, using fake emails and burner phones to hide his involvement."

"Prosecutors stated that Solomon spent the stolen money on a $4.5 million house, a $3.5 million co-op, a Porsche, and a country club membership, funding a lifestyle he had not earned."

"Solomon's attorney claimed there was nothing fraudulent about the brokerages, arguing that Solomon did legitimate work as a broker and that Vornado miscast his actions as criminal after discovering his ownership."

Jared Solomon, a former executive at Vornado Realty Trust, is on trial for allegedly stealing over $9.5 million by creating fake brokerages to bill the company. Prosecutors claim he used fake emails and burner phones to conceal his actions. Solomon reportedly used the stolen funds to purchase luxury items, including a $4.5 million house and a Porsche. His defense argues that the brokerages were legitimate and that the company mischaracterized his actions as criminal after discovering his ownership of the companies.

Read at therealdeal.com