State Police: Fiberdyne Employees Fraudulently Diverting Business To Their Own Company
Frankfort, NY (WIBX) – Four employees of Fiberdyne Labs in Frankfort are accused of diverting business from their employer to another company that they created – all while still working at Fiberdyne Labs, according to investigators with the New York State Police.
State Police say after a year and a half long investigation, former Vice President of Professional Services for Fiberdyne, Matthew Paoni, Ronald Scalise, Daniel Caiola and Michael Caiola were indicted by a Herkimer County Grand Jury on charges including conspiracy, grand larceny and scheme to defraud.
Police say Scalise owned and financed a separate company called Trans World Fiber Optics.
The group is accused of using internal knowledge and customer contacts to fraudulently divert buisiness to the Trans World company, according to state police.