The “Robin Hood” accused of embezzling a fortune – supposedly giving it to charity – was ordered held on $1 million bail yesterday amid questions about whether any of the loot really went to good works.
John Loan, an events manager for Alliance Capital Management, is charged with bilking the firm out of $3 million.
Friends say he used the money to pay the medical bills of a lover dying of AIDS and, after he died, to shower munificence on gay-related charities and a charity for people suffering from Down’s syndrome.
Loan’s neighbors on East 85th Street say his lover died four years ago, right about the time Loan began to help himself to Alliance’s capital, according to court papers.
Sources said Loan gave money to the Gay Men’s Health Crisis and the Gay and Lesbian Community Center, but GMHC could find no contribution from Loan, or Beautiful Parties, a corporate name he allegedly used to swindle Alliance.
GMHC also had no record of contributions from John Jerome, a name Loan used to run Jerome Records, a cabaret music label.
The Gay and Lesbian Community Center did not return calls.
But Loan did make contributions – $2,000 to the campaign of Sen. Hillary Rodham Clinton and $5,000 each to two soft-money campaigns supporting her.
A Clinton spokeswoman said, “We are prepared to take all appropriate actions once this case is resolved.”
Loan and Kristopher McDowell, who released the first record on Loan’s label, founded a Down syndrome charity in July 2000.
Asked about the charity last night, McDowell said, “I don’t know what you’re talking about.”
Loan, who prosecutor Melissa Paolella said earned $225,000 a year, was hired at Alliance through a homeless-placement service.
Then-CEO Dave Williams, and his wife, Reba White Williams, the former president of the Municipal Art Commission, were known in the company as Loan’s mentors.
The Williamses, traveling out of the country, said through a spokesman they “were shocked and saddened to learn of the allegations” against Loan, but would not comment further.
John Meyers, Alliance’s spokesman, declined to comment, saying the matter was “under investigation by the authorities.”
Additional reporting by Bridget Harrison, Clemente Lisi and Murray Weiss