Peter Wilde was indicted by the Manhattan grand jury on several felony charges including Grand Larceny and Criminal Possession of a Forged Instrument. According to the indictment, Wilde had used a power of attorney that his parents gave him to steal their money, about $1,6 million from several Citibank accounts.
According to court documents, Wilde’s elderly mother and stepfather, who lived outside the country and owned several accounts with Citibank in New York City, granted a power of attorney to Wilde to manage the account. Instead, Wild had been allegedly taking the money for his own use. This had allegedly continued between 1996 and 2004 when Wilde’s mother discovered the misappropriations and revoked the power of attorney. Wilde is a Virginia resident but the case is prosecuted in New York City because the accounts were located in Citibank in Manhattan.
Wilde is charged with one count of Grand Larceny in the First Degree, a class B felony, and two counts of Criminal Possession of a Forged Instrument in the Second Degree, class D felony. A class B felony is punishable by 8-1/3 to 25 years, and a class D felony is punishable by 2-1/3 to 7 years.