MALDEN — A Winthrop man faces multiple larceny charges for allegedly stealing over $35,000 in down payments and security deposits from individuals seeking to rent apartments in Malden, authorities said Tuesday.
Kenneth Riel, 50, was arrested and charged with eleven counts of larceny over $1,200, six counts of larceny and one count of false entries or omissions in corporate books, according to Middlesex District Attorney Marian Ryan and Malden Chief of Police Glenn Cronin.
Prosecutors allege that Riel, while working as a property manager of a multi-unit apartment complex in Malden in fall 2023, directed rental applicants to submit blank money orders to him for deposits.
He then allegedly completed the money orders with his name or family members’ names as payees, rather than the management company.
The scheme was uncovered after Riel’s employment ended when prospective tenants arrived at the complex seeking keys or information about their apartments.
Seventeen people reported providing payments to Riel that were never documented with the management company, investigators said.
In one instance, a renter allegedly sent payment to Riel’s personal account via the mobile app Zelle.
Riel was arraigned Dec. 19 in Malden District Court.
Bail was set at $10,000.
His next court date is scheduled for Jan. 17, 2025.