HAMILTON: Former CEO charged with stealing $900,000

Authorities allege that between March 2005 and May 2010 $921,268.72 was stolen through fraudulent transfers and checks from Mercer-Bucks Orthopaedics.

HAMILTON — Constantine A. Solomos, former CEO of the township-based Mercer-Bucks Orthopaedics, has been charged with stealing more than $900,000 from his once-employer, authorities announced Tuesday.
   Authorities allege that between March 2005 and continued through May 2010 Mr. Solomos, 58, of Media, Pennsylvania, stole $921,268.72 through fraudulent transfers and checks from Mercer-Bucks Orthopaedics.
   According to the release, Mr. Solomos allegedly created several fictitious companies with names very similar to the names of vendors that Mercer-Bucks Orthopaedics would routinely use. He then prepared checks in the names of these fictitious companies and requested signatures from members of the practice, who are all orthopaedic surgeons, according to the release.
   Mr. Solomos then allegedly deposited the checks into bank accounts he controlled.
   According to the release, Mr. Solomos turned himself in Monday morning amid a joint investigation between the Mercer County Prosecutor Office’s Economic Crime Unit and the Hamilton Township Police Division.
   He is charged with one count of second-degree theft. Such crimes carry a maximum sentence of 10 years in state prison and a $150,000 fine.
   Mr. Solomos’ bail was set at $125,000, which he posted Monday.
   According to authorities, in October 2012, employees at Mercer-Bucks Orthopaedics discovered several financial discrepancies involving Mr. Solomos, who had left the group in May 2010.
   These discrepancies were subsequently reported to the Hamilton Police Division and, shortly thereafter, the joint investigation with the prosecutor’s Economic Crime Unit began, per the release.
   Mercer County Prosectuor Joseph L. Bocchini Jr. credited Det. Denise Gorlin (retired) and Det. Nancy Diaz of his ECU, as well as Det. Dave Wilson (retired) of the Hamilton Police Division with the investigation leading to the arrest.
   The prosecutor also thanked the Federal Bureau of Investigation, the Delaware County District Attorney’s Office and the Tredyffrin Township Police Department for their assistance.
   The case is being prosecuted by Assistant Prosecutor James Scott, chief of the ECU.