State Police charge Cohoes man in $4 million embezzlement scheme

On January 21, 2026, the New York State Police Special Investigations Unit (SIU) Financial Crimes Unit, in coordination with Troop G Bureau of Criminal Investigation and State Police in Latham, arrested Kevin J. Stevens, 61, of Cohoes, on the following charges:

• Grand Larceny 1st Degree (Class B felony)
• Identity Theft 1st Degree
• Conspiracy 4th Degree
• Falsifying Business Records 1st Degree
• Forgery 2nd Degree

Stevens is accused of operating an embezzlement scheme between September 1, 2019, and February 4, 2025, while serving as Chief Financial Officer of A.E. Rosen Electrical Co., Inc., resulting in a loss to the company exceeding $4 million. Stevens is no longer employed by the company.

Stevens was arraigned in Albany City Court and ordered held on $50,000 cash or $100,000 bond.

The Albany County District Attorney’s Office is prosecuting the case.