Glen Cove Man Accused of Bilking $1M from NYC Woman

A Glen Cove man was arrested Thursday for stealing more than $1,000,000 from an elderly Queens woman, Nassau police said.

John Mondello, 61, who was as a financial advisor for John Hancock Financial Services in Garden City, stole funds from an 84-year-old woman between January 2007 and June 2009, according to Crimes Against Property Squad detectives.

“Mondello diverted funds to himself, received cash from the victim by confusion and deceit and liquidated accounts in order to gain a commission on the transfer of the account,” police said in a statement.

“John Mondello is no longer affiliated with the John Hancock Financial Network, a national network of independent firms,” the company said in a statement. “The Company will work closely with clients to ensure that their concerns are being addressed.”

Mondello was charged with grand larceny, falsifying business records and five counts of possession of a forged instrument. His attorney was not available for comment.

He pleaded not guilty during his arraignment at First District Court in Hempstead on Friday. Bail was set at $750,000, which had not been posted as of Friday night. He is due back in court on Nov. 4.